WTI Holds Gains After Biggest Crude Draw In Over 2 Months, US Production Rises Oil prices are higher this morning, bucking a broadly risk-off sentiment across markets, following API’s report overnight showing US crude stockpiles declined last week, while traders assessed negotiations to end Russia’s war against Ukraine. “Focus is gradually shifting back towards fundamentals,” said Arne Lohmann Rasmussen, chief analyst at A/S Global Risk Management. Declining US inventories in EIA data later “could lend support, as many fear a significant inventory build in the coming quarters.” The drop shows summer demand remains solid even as supply is on the rise.… — Continue at ZeroHedge News : Read More
