34 days ago • Posted by William Ramstein

Oil futures stuck at $60 but US inventory drawdowns could push price up

Futures in New York rose 1.4% and is heading for the longest run of gains in over a month. The American Petroleum Institute reported crude inventories fell by 3.61 million barrels last week, which will be a third straight draw if confirmed by government data Wednesday. OPEC boosted its consumption forecast for 2021 and predicted the recovery will continue.

Source: Bloomberg

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