VOL. XLIII
No. 33
14-August-2000
OPEC
API Report Of Surprise Stock Draw Starts Price Hike As EIA Continues To Predict Price Decline
An American Petroleum Institute (API) report published on 8 August revealed an unexpected 2.1mn barrel decline in US crude stocks during the week ending 4 August, leading crude oil traders to raise the prices of the US and North Sea benchmark blends by more than $1/B the following day. This surprise bullish surge followed a similar rise the previous week, which...
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