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Largest ever crude oil inventory draw an anomaly, oil price fell

Largest ever crude oil inventory draw an anomaly, oil price fell
Oil inventory surveys this week indicated enormous drawdowns:Oil hammered despite record US weekly draw. Eyes on Saudi ArabiaPrivate oil survey data shows huge headline crude draw, MUCH larger than expectedANZ's wrap-up of Wednesday's moves explains:... a sharp drawdown in inventories. US commercial stockpiles fell by 17,049kbbls last week, according to Energy Information Administration data. While it was the largest ever fall in volume terms, it was viewed as an anomaly due to adjustment factor... Read More
Posted: Aug 2 2023, 22:17
Author Name: forexlive
Views: 102273

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