“OPEC may be trumpeting success as inventories close their gap to the most recent five-year average,” said Harry Tchilinguirian, head of commodity markets strategy at BNP Paribas SA. “It has progressed, but OPEC is not out of the woods. The stock-draws are not enough to reverse the large builds in oil inventories that we saw between 2014 and 2016.” U.S. crude output rose by 46,000 barrels a day to 9.55 million a day, according to a report Wednesday by the EIA. That’s the highest level in a month. Gasoline stockpiles fell for a second week to 212.8 million barrels, the lowest level since August 2015. Click Read More below for additional information.
American Dollar to Canadian Dollar = 0.824625; American Dollar to Chinese Yuan = 0.155365; American Dollar to Euro = 1.212374; American Dollar to Japanese Yen = 0.009151; American Dollar to Mexican Peso = 0.050486.