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Crude Oil Slumped as US Inventory Rose for the First Time in 9 Weeks. Busy Day Ahead

Posted June 8th, 2017 by Arnulfo92M and filed in General News
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We have a busy day on Thursday, with UK general election, ECB meeting and former FBI Director James Comey’s testimony under the spotlight. Ahead of these events, what dominated the focus was the slump in crude oil prices, after the US reported increase in inventory. The front-month WTI crude oil contract dived to a 1-month low of 45.65 before ending the day at 45.72, down -5.13%, while the Brent crude contract plunged -4.11%, and settled at 48.06.

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Crude Oil Slumped as US Inventory Rose for the First Time in 9 Weeks. Busy Day Ahead

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