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API: Crude: +1.103M, Gasoline: +3.198M, Distillate: +6.779M
Added at 4:39pm
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WTI Dips After Surprise Crude Build
After 5 straight down days, oil managed modest gains today with WTI bouncing off $58.00 on the heels of some optimism surrounding the imminent signing of the trade deal. "The broader energy market is likely falling back into its familiar range with WTI trading between $52 and $63" a barrel, analysts at Sevens Report Research wrote in their latest newsletter. Fundamentals are largely bearish due to oversupply concerns, especially given the huge build in stockpiles reported in the refined products last week, so all eyes will be on tonight's API data (barring any geopolitical headlines)... API • Crude +1.1mm (-1.1mm ... (full story)