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Saturday, December 28, 2024

Surprise Crude Build Pressures Oil Prices

Oil prices dropped more than a dollar as soon as the DOE announced a surprise inventory build today.

Surprise Crude Build Pressures Oil Prices Today
Source: CNBC

That was the first weekly build in crude stockpiles in five weeks. Analysts were expecting U.S. crude inventories to fall by 2.5 million barrels, according to a Reuters poll.

Surprise Crude Build Pressures Oil Prices Today
Graph: EnerCom

 

 

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