SUBSCRIBE TO FEEDFXstreet.com (Barcelona) – The EIA Crude Oil Stocks had a sharp rise to 7.3 M / barrels during the week ending in July 23. The data is unexpectedly high, if we take into account the previous number stood at 0.4M / barrels.
The report indicates oversupply in US inventories, impacting negatively to Oil quotes, which dropped almost 2% since the news release. Investors were concerned the data may be due to a reduction of US demand.
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