US crude inventories depleting rapidly
Despite the rapid depletion of US commercial crude stocks, crude futures remained range-bound on early Wednesday, at 74.9 $/b at the prompt. US crude inventories…
Brent prompt future contract rallied to 66.2 $/b, as product buyers aggressively bid gasoline resources in the US to secure to supply in those highly uncertain conditions, lifting the potential for crude prices to rally. The market consensus anticipates steep draws in US petroleum markets.
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