Oil Prices Remain Firm Despite Huge Stock Builds
BonTrade***UPDATE: Crude oil inventory surged +4.03 mmb, compared with market expectation of +1.9 mmb gain, to 341.6 mmb in the week ended February 26. Cushing stock, halting the downtrend, rose for the first time in 10 weeks. Considering oil products, Increase in gasoline inventory was also more than consensus while draw in distillate stockpile came less than forecasts.
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Oil Prices Remain Firm Despite Huge Stock Builds
