Crude Oil Dropped As Data Showed Chinese Demand For Oil Eased - Dollar Advisory | Best Commodity Tips Provider

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Wednesday 16 August 2017

Crude Oil Dropped As Data Showed Chinese Demand For Oil Eased

Crude oil trading range for the day is 3009-3179.

Crude oil dropped as data showed Chinese demand for oil eased in July while concerns over a rise in OPEC output continued to weigh on sentiment.

U.S. crude inventories fell by 9.2 million barrels in the week to Aug. 11 to 469.2 million, industry group the American Petroleum Institute said.

Chinese refineries processed 0.4 percent more crude oil in July than a year earlier at 45.5 million tonnes, or about 10.71 mbpd, data showed.

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