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Barchart
Barchart
Rich Asplund

Crude Prices Fall after Weekly EIA Crude Inventories Unexpectedly Climb

Oil EIA United States Nymex Natural Gas

July WTI crude oil (CLN23) this morning is down -0.60 (-0.86%), and July RBOB gasoline (RBN23) is down -0.34 (-0.13%).  July Nymex natural gas (NGN23) is up +0.003 (+0.09%).

Crude oil and gasoline prices this morning are mixed.  Crude prices gave up an early advance and moved moderately lower after an unexpected build in weekly EIA crude inventories.  Crude prices this morning initially moved higher after the dollar index fell to a 4-week low and after the S&P 500 rallied to a 13-3/4 month high, which shows confidence in the economic outlook that is supportive for energy demand.

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