Crude Changes Little Although Inventory Probably Dropped Last Week

Commodities changed little in European session. The front-month contract for WTI crude oil hovered around Wednesday’s close of 87 while the equivalent Brent crude contract fluctuated around the 100 level. Supply shortage as sanctions over Iran took effect on July 1 was overshadowed by weakness in the Eurozone’s economy. Investors also shrugged off the strikes in Norway which has caused suspension of 250-290K bpd of oil output. Gold price edged higher as the ECB rate cut is set to trigger inflationary pressure.

Here is the original post: 
Crude Changes Little Although Inventory Probably Dropped Last Week