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WTI climbs above $90.00 per barrel as US oil inventories fall

From fxstreet.com

Western Texas Intermediate (WTI), the US crude oil benchmark, rises close to 2% as the US Dollar weakens ahead of the Fed’s decision, while stockpiles in the US declined as refineries increased activity as the winter season looms. At the time of writing, WTI is trading at $90.13 per barrel after hitting a daily low of $87.76. According to the US Energy Information Administration (EIA), most oil-related products, like gasoline and distillates, shrank, increasing analysts’ worries that an end of releases from the US reserves would tighten the markets. Sources cited by Reuters said that “Every week that goes by, the US ... (full story)

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  • Category: Technical Analysis