Weekly Fundamentals - Stock-Builds Put Crude and Gas Under Pressure
bG2cL9eQ9jWTI crude slumped last week, mainly because US stockpile increased by the level not seen since the DOE/EIA began keeping records. The front-month contract plunged to a 2-week low of 100.48 on Friday before ending the week at 100.6, down -3.55%. The DOE/EIA’s weekly report shows that total crude oil and petroleum products stocks gained +12.02 mmb to 1068.94 mmb in the week ended April 18.
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Weekly Fundamentals - Stock-Builds Put Crude and Gas Under Pressure
