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Crude Rallies Despite Bearish EIA Report As Middle East Tensions Rise

From orbex.com

Crude oil prices have continued to trade in the green this week despite the latest industry reporting showing increased stock levels. The weekly report from the Energy Information Administration was released yesterday. It showed that US crude inventories unexpectedly rose 5.4 million barrels in the week ending May 10th. This figure was in stark contrast to the expected 800k barrel decline. It has now taken inventories to their highest level since 2017. Test your strategy on how Oil prices will fare -Open Your Orbex Account Now SPR Releases Oil The increase in inventories came during a release from the national ... (full story)

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  • Category: Fundamental Analysis