WTI Screams Back Up Past $70 Despite Crude Inventory Builds ...Middle East

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WTI Screams Back Up Past $70 Despite Crude Inventory Builds
source : OILPRICE ( Middle East ) () 46
Crude oil prices turned around on Thursday, erasing most of the week’s earlier losses despite the latest EIA report that indicated crude oil inventories rose more than expected. WTI was sent back up above the $70 threshold to $70.96—a $2.87 (+4.22%) rise on the day. The Brent crude oil benchmark had risen $2.58 (3.55%) per barrel to $75.18. While it hasn’t erased all of the week’s losses, it has recouped more than half. This week has been a rollercoaster for crude oil prices, first sent spiraling downward at the beginning…

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