​WTI Holds Gains After API Reports Crude Build, Product Draws – Tyler Durden

WTI Holds Gains After API Reports Crude Build, Product Draws Oil prices rallied for a second straight day, erasing some of last week’s ugly losses, with prices supported by some upbeat prospects for Chinese demand and ongoing concerns that the Middle Eastern conflict will threaten crude flows from the region. “We’re seeing a constant push-pull between expectations of a cease-fire — which would unwind the geopolitical risk premium — and concerns over potential escalation,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Group. “This environment remains highly volatile, with traders operating under low risk thresholds, contributing to significant price…  — Continue at ZeroHedge News : Read More