Oil bounces back after official data shows yet another crude inventory draw
Oil prices came back from a nearly 2% decline Wednesday morning following news from the Energy Information Administration that U.S. crude oil inventories fell last week. The oil inventory draw is the seventh time in the last eight weeks that stores of crude went lower despite analysts’ expectations that there would be a build. The EIA reported a draw of 0.6 MMBO for the week ended October 21, 2016, versus an expected build of 4.8 MMBO from industry group American Petro...


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