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Stock impact report

US oil surges 16% as inventories reportedly rise less than expected [CNBC]

Moody's Corporation (MCO) 
Last moody's corporation earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.moodys.com/home/default.aspx
Company Research Source: CNBC
Oil prices jumped on Wednesday following a report that showed a smaller-than-expected build in U.S. inventories.West Texas IntermediateBrent crudeThe surge higher came after data from the American Petroleum Institute showed that U.S. crude inventories jumped by 10 million barrels in the week to April 24, to 510 million barrels. That was lower than analysts' expectations of a build of 10.6 million barrels, according to estimates from Reuters.Official data from the U.S. Information Administration will be released at 10:30 a.m. ET."Oil prices rose on Wednesday morning as traders cling to potentially positive indications that the demand-supply gap may somewhat become smaller soon," Rystad 's global head of oil markets Bjornar Tonhaugen told CNBC."Overall we need official announcements for cuts or economies reopening for prices to stabilize. Expect a lot of volatility and price swings either way in coming days as bullish and bearish traders weigh their hopes and fears in a market that is Show less Read more
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