Crude Rises but Not Sustainable. EIA Revised Down Oil Demand Forecasts
BonTradeAs driven by a late-rally in the Wall Street, WTI crude oil price ended the day with small gains. After market close, API's report showing a dip in crude inventory boosted the market further. However, we doubt if the strength can sustain as sovereign crisis in the Eurozone has shown intensified signs of contagion. Gold price retreated after hitting a new record at 1254.5.
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Crude Rises but Not Sustainable. EIA Revised Down Oil Demand Forecasts
