ychong87
2021-10-07
Manipulation.
Oil drops for 2nd session on unexpected rise in U.S. inventories
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Brent crude 2 cents, to $81.06 a barrel.</p>\n<p>\"Commercial stockpiles of crude rose ... last week, according to EIA data,\" ANZ said in a note. \"Stockpiles of gasoline also surged raising concerns of weaker demand.\"</p>\n<p>U.S. crude inventories rose by 2.3 million barrels last week, the U.S. Energy Information Administraion (EIA) said, against expectations for a modest dip of 418,000 barrels. Gasoline inventories also rose, while distillate inventories were down slightly.</p>\n<p>Global oil prices have jumped more than 50% this year, adding to inflationary pressure that could slow recovery from the COVID-19 pandemic and impact consumer demand. 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