Oil gains on US inventory drawdown, Gulf of Mexico storm (Reuters.com)

Oil prices rose more than 2% on Wednesday after industry data showed US inventories fell more than expected and as major US producers evacuated rigs in the Gulf of Mexico before a storm.

Data from the API on Tuesday showed US crude inventories fell by 8.1 million barrels in the week to July 5 to 461.4 million, compared with analysts expectations for a decrease of 3.1 million barrels.
more detail at source: https://www.reuters.com/article/us-global-oil-idUSKCN1U5027

Back To Top
×Close search