Oil Rally Takes Breather On Small Crude Draw ...Middle East

The rally in oil prices took a breather today after the Energy Information Administration reported a crude oil inventory draw of 400,000 barrels for the week to May 7. This compared with a draw of 8 million barrels reported for the previous week—the largest decline in U.S. crude oil stocks since January. Analysts had expected an inventory draw of 2.8 million barrels for the reporting period. In gasoline, the EIA reported an inventory build of 400,000 barrels for the week to May 7, which compared with two modest consecutive weekly builds of…

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Last updated : 12 May 2021 clock 05:48 PM

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Oil Rally Takes Breather On Small Crude Draw ...Middle East

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