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Stock impact report

Oil rises for third day after surprise drop in U.S. inventories [MSN Money]

CME Group Inc. - Class A (CME) 
Last cme group inc. - class a earnings: 4/29 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
Company Research Source: MSN Money
(Bloomberg) -- Oil rose for a third day after a U.S. government report showed tumbling domestic crude and fuel inventories. Futures in New York reversed an early-session decline on Wednesday after the Energy Information Administration said U.S. oil stockpiles declined by 4.14 million barrels last week, the most since March. Before the tally, prices were under pressure as Russia and Saudi Arabia signaled a desire to unwind historic output limits. © Bloomberg   “We saw a bit of a reversal after the inventory numbers came out,” said Gene McGillian, market research manager at Tradition Energy. “Instead of an across the board build like we expected, we got the complete opposite of that.” Oil has retreated from the highs of May after the Saudi kingdom and Russia indicated they supply increases may be needed to counter losses from other producers such as Venezuela. U.S. President Donald Trump on Wednesday reiterated criticism of OPEC for restraining supplies. The Organizatio Show less Read more
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