U.S. crude inventory build was big, but oil prices remain above $40 per barrel
Crude oil inventories grew by 6.6 million barrels, far surpassing economist estimates which averaged just 733 thousand barrels for the week ended April 8, 2016. The build brought total U.S. inventories to 536.5 MMBO after a surprise weather-related draw last week. Oil prices fell on the news, but U.S. crude benchmark WTI has remained above the $40 per barrel mark at $42.05 as of 12:00 p.m. EST despite the build.

Oil prices climbed above the $40 mark following new...

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