Crude Inventory Drops, Oil (OIL) Reaction Muted
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Crude inventories were rose 2.84 million versus the 2.5 million expected build. The market has shown little reaction to the updated inventory levels and is trading near opening prices.
Gasoline inventories fell 2.01 million barrels, versus the consensus of a 1.2 million draw, while distillate inventories fell 1.9 million barrels.
S&P GSCI Crude Oil Total Return Index (NYSE: OIL) trades at 26.35, down .15, or .58 percent.
Gasoline inventories fell 2.01 million barrels, versus the consensus of a 1.2 million draw, while distillate inventories fell 1.9 million barrels.
S&P GSCI Crude Oil Total Return Index (NYSE: OIL) trades at 26.35, down .15, or .58 percent.
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