Unexpected Inventory Gain Pressured WTI Prices

Surprising increase in crude oil inventory weighed on WTI crude oil price, sending the front-month contract -0.55% lower at close. The corresponding Brent contract climbed higher, thus widening the WTI-Brent spread. In the FX market, US dollar was mixed against major currencies, sending the DXY index -0.06% lower for the day.

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Unexpected Inventory Gain Pressured WTI Prices