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Rise in US Oil Inventories Could Help Oil Rise More

Robert Scott
Rise in US Oil Inventories Could Help Oil Rise More

In the week ending April 13, US crude oil inventories fell by 1.1 MMbbls (million barrels) to ~427.6 MMbbls. The market expected a fall of 0.5 MMbbls in the EIA’s data on April 18. On the same day, US crude oil June futures rose 2.9%.