Crude Oil Insights Uncategorized Crude oil prices – Oil hovering around 72 on API higher than expected draw

Crude oil prices – Oil hovering around 72 on API higher than expected draw

American Petroleum Institute inventories drop by larger than expected numbers (4.5 million barrels versus 1.3 barrels of crude oil) while Oil hovers around 72 dollars a barrel in New York. Euro bounces back to 1.1973 on news of intervention and calming comments by Fed Reserve Chair Ben Bernanke on the pace of recovery in the US economy that are expected to help whet investor risk appetite.

 

Author: Jawwad