Crude oil prices moved lower after the Energy Information Administration reported an inventory build of 8.2 million barrels for the week to July 1. This compared with a draw of 2.8 million barrels for the previous week. A day earlier, the API had estimated a crude oil inventory build of close to 4 million barrels, which contributed to a decline in oil prices, which had, however, started to reverse at the time of writing.
Brent had rebounded above $100 per barrel in pre-noon Asian trade on Thursday after dipping below the three-digit threshold for…EIA Inventory Report Arrests The Oil Price Bounce
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