​WTI Hovers Above 2-Month Lows After API Reports Across-The-Board Inventory Draws – Tyler Durden

WTI Hovers Above 2-Month Lows After API Reports Across-The-Board Inventory Draws Oil prices declined for the third straight day as general risk-off sentiment combined with traders anxiety over Chinese demand to pull WTI down near two-month lows. “Questionable data coming out of China is the main driver in the overall retraction” for oil, Gary Cunningham, director of market research at Tradition Energy, told MarketWatch. China’s “petroleum demands may not be as robust as we thought just a few weeks ago.” Meanwhile, U.S. summer travel demands remain a “bright spot, but are not enough to support the entire market as political…  — Continue at ZeroHedge News : Read More