Oil Prices Extend Losses After EIA Inventory Data Release ...Middle East

Crude oil prices fell today, even after the U.S. Energy Information Administration reported inventories of oil had shed 3.7 million barrels over the week to November 18. This compared with a decline of 5.4 million barrels for the previous week and an estimated draw of 4.8 million barrels reported by the American petroleum Institute for the week to November 18. Amid the latest slump in oil prices triggered by expectations of sluggish demand growth in China prompted by another flare-up of Covid, the EIA said that at 431.7 million barrels, U.S. crude…

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