Soaring Gasoline and Distillate Stockpiles, and Crude Oil Production, Signals Demand Receding

Posted December 7th, 2017 by AnaTroweryousji and filed in General News

Surprising US stock-builds weighed on oil prices, sending the front-month WTI and Brent crude oil contracts down, by -2.88% and -2.61%, respectively. For refined oil products, the Nymex heating oil and RBOB gasoline contracts plunged -2.75% and -3.35% for the day. In the FX market, Canadian dollar was the worst performer against US dollar, amongst other major currencies.

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Soaring Gasoline and Distillate Stockpiles, and Crude Oil Production, Signals Demand Receding

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