Inventory Data Might Help Oil Rise More

inventory data might help oil rise more
Inventory Data Might Help Oil Rise More

According to the EIA’s (U.S. Energy Information Administration) report on August 1, US crude oil inventories rose by ~3.8 MMbbls (million barrels) to ~408.7 MMbbls in the week ending on July 27. The market expected a fall of 2.8 MMbbls, according to Reuters. US crude oil September futures fell 1.6% on August 1.

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Author: HEDGE

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