WTI crude oil prices staged a recovery this morning - fueling optimism once again that stability was here... Then the EIA inventories data hit. With crude (Crude inventory rose 5.39mm barrels against expectations of a 1.75mm barrels and a 3.062mm barrel draw last month) and distillate inventories (+2925K, Exp. 2100K, Last 11205K) surging considerably more than expected (some expecting a draw), futures prices are fading back rapidly...
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