3 October 2018, 18:18  WTI remains above $75.00

WTI remains above $75.00 Prices of the barrel of the West Texas Intermediate keep the upside bias unchanged on Wednesday in the wake of the weekly report on US crude oil inventories published by the EIA. WTI showed some volatility after the EIA reported US crude oil supplies rose by 7.975M barrles during last week, the largest build in the last 19 months. Additionally, Weekly Distillate Stocks decreased by 1.750M barrels and Gasoline inventories dropped more than expected by 0.459M barrels. Furthermore, supplies at Cushing increased by 1.699M barrels, adding to last week’s 0.461M barrels build. Crude oil prices are trading below yesterday’s fresh 2018 tops beyond the $76.00 mark per barrel, although they somewhat manage to keep the daily gains for the time being.

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