Oil fell on Wednesday after an industry report showed an unexpected build in U.S...
SINGAPORE - Oil fell on Wednesday after an industry report showed an unexpected build in U.S. crude inventories, but optimism around the signing of the first phase of a U.S.-China trade deal capped a deeper slide in prices.
U.S. crude stocks rose by 3.6 million barrels in the week to Nov. 22 to 449.6 million, compared with analysts’ expectations for a decrease of 418,000 barrels, data from industry group the American Petroleum Institute showed. [API/S] “But oil prices continue to be driven mainly by U.S.-China trade news flow, which remains hugely encouraging even more so after President Trump sounded extremely optimistic, hinting that a deal was just around the corner.”
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