Crude oil prices jumped as US inventory fell last week while OPEC upgraded its global demand outlook. Upbeat sentiment also helped as equities rallied and US dollar softened on speculations that the Fed would stay on hold this month. The front-month WTI crude contract initially jumped to a 2-week higher of 47.35 before ending the day at 47.15, up +5.74%.
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Crude Jumped over +5% as Inventory Dropped. Sentiment Upbeat ahead of FOMC Announcement
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