​WTI Holds Gains After API Reports Across-The-Board Inventory Draws – Tyler Durden

WTI Holds Gains After API Reports Across-The-Board Inventory Draws Oil pries rallied to one-month highs today after China’s stimmy package prompted demand hope (and OPEC doubled down on forecasts that global oil demand will keep growing to the middle of the century). Additionally, the threat of another hurricane in the Gulf Coast, “dealt a blow to the bearish sentiment that dominated the oil markets in the past three weeks,” Claudio Galimberti, global market analysis director at Rystad Energy, wrote in a market update Tuesday. “The stimulus is good news for oil demand, which has been weaker than expected, specifically in…  — Continue at ZeroHedge News : Read More