Crude oil prices gained, with the front-month WTI and Brent contracts rising +1.4% and +0.88% last week. The strength was mainly driven by the huge decline in US crude stockpile which fell -6.81 mmb in the week ended June 5, the sixth consecutive weekly drop and the biggest fall since May.
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Weekly Fundamentals – Crude Supply Remains a Problem Despite Recent Inventory Decline
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