17.09.2015 - Oil price up 4% to $47 as EIA shows crude inventories finally dropping
The price of North America's crude oil benchmark gained more than four per cent to trade above $47 US on Wednesday as a report from the Energy Information Administration showed crude inventories fell by 2.1 million barrels in the last week. A barrel of West Texas Intermediate was trading at $47.05 US at close of trading on Wednesday, up $2.47 on the day. The catalyst for oil's surge was EIA data showing that American oil stockpiles are finally starting to go down, falling by 2.1 million barrels to 455.89 million barrels in storage...............................................Full Article: Source
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