Oil inventories fall by 3.1M barrels Last Week: API
Investing.com -- U.S. crude stockpiles fell more than expected last week, the API reported Tuesday, in a sign of improving demand.fell by about 3.1 million barrels for the week ended May. 10, compared with an build of 509,000 barrels reported by the API for the previous week. Economists were expecting a decrease of 1.1M barrels.
The data come as some continue to remain bearish on oil prices, warning of weakness ahead amid concerns about non-OPEC supply growth.
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