USA Crude Oil Inventories Draw Of 2.547M Vs Draw Of 2.800M Est.; Build Of 3.730M Prior
Portfolio Pulse from Benzinga Newsdesk
The latest report on USA crude oil inventories shows a draw of 2.547 million barrels, which is less than the estimated draw of 2.800 million barrels. This follows a prior build of 3.730 million barrels.
June 20, 2024 | 3:01 pm
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The United States Oil Fund (USO) may experience short-term volatility due to the latest crude oil inventory report showing a draw of 2.547 million barrels, which is less than the expected draw of 2.800 million barrels.
The draw in crude oil inventories is less than expected, which could lead to mixed reactions in the oil market. This may cause short-term volatility in USO, an ETF that tracks the price of oil.
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