Oil Jumps After US Inventory Surprise

Posted by Scott Disavino

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Oil prices jumped almost 1.5 per cent on Wednesday, extending gains after a U.S. government report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories.

The Energy Information Administration (EIA) said U.S. crude stocks fell 4.7 million barrels during the week ended July 14. , exceeding estimates for… CLICK HERE for the complete article

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