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Futures Movers: Oil erases loss after smaller-than-expected inventory rise [MarketWatch]

CME GROUP (CME)  More Company Research Source: MarketWatch
Last cme group earnings: 4/26 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
PDF Oil erases loss after smaller-than-expected inventory rise Oil futures rebounded from early losses after government data showed crude inventories rose less than expected last week, but then struggled to maintain gains on continued worries about rising U.S. production. On the New York Mercantile Exchange, West Texas Intermediate futures CLH8, +0.35% was off 4 cents, or 0.1%, at $59.15 a barrel. Brent crude LCOJ8, +0.62% , the global benchmark, was up 12 cents, or 0.2%, at $62.84 a barrel on London’s Intercontinental Exchange. The Energy Information Administration said U.S. inventories rose by 1.8 million barrels in the week ended Feb. 9. A survey of analysts by The Wall Street Journal had produced an average forecast for a 2.6 million barrel rise, and data from the American Petroleum Institute, an industry trade group, had shown a 3.9 million barrel rise Tuesday. The API number had meant that “a good deal of the bearish response” to a continued rise in inventories “was baked in l [Read more]

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