Oil Prices Sink As Inflation Anxiety Builds ...Middle East

OILPRICE - Economy
Oil Prices Sink As Inflation Anxiety Builds
source : OILPRICE ( Middle East ) () 44
Crude oil prices were once again on the decline today in Asian morning trade, extending a slip that began yesterday after the American Petroleum Institute surprised markets by estimating an inventory build in both crude and gasoline. The API reported a 3.62-million-barrel increase in crude oil inventories, with gasoline stocks up by some 400,000 barrels. Because the market had expected a draw, the estimates pressured oil prices already on shaky grounds as traders wait for the release of the consumer price index reading for April, due out later…

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