Oil Prices fall on inventory surge Crude Oil Prices dropped more than 1% in trading on Wednesday and in part, because of a buildup of U.S. crude oil inventories. However, traders viewed that inventory spike as material supply pressure and not noise. Oklahoma Energy analysts warn that rising U.S. storage elevates short-term glut risk conditions …
Tag: U.S. crude inventories
Oil Prices Rise as U.S. Crude Inventories Drop
Oil Prices Strengthen After EIA Reports Big Inventory Decline Oil prices rose on Wednesday after data revealed that U.S. crude and fuel inventories fell more than expected last week. The surprising drawdown came as President Donald Trump’s positive outlook on upcoming U.S.–China trade talks helped ease economic concerns. Brent crude futures climbed 52 cents, or …