Thursday, 7 September 2017

Crude Oil Prices Surged Supported By Rising Demand

Crude oil trading range for the day is 3096-3204.

Crude oil prices surged supported by rising demand from the United States where Gulf Coast refineries are restarting in the wake of Hurricane Harvey.

U.S. crude oil inventories rose by 2.79 million barrels at the end of last week, the American Petroleum Institute said.

Outside the United States, the bank said that the return of Libya’s largest oil field to production was “less supportive” of prices.

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