2:44 PM · 7 August 2024

DOE report shows higher decline in oil inventories than expected

Change in barrels of oil:

Actual: -3.72 million
Forecast: -1.8 million
Previously: -3.44 million

In response to the data, the price of oil on the market is rebounding after declines initiated to a peak at around 2:00 pm BST. Prices are rising by more than 0.5%, approaching today's highs. Source: xStation

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