Spot Cargo Markets - Oil Hits Two-Month Low

摘要

Still-bloated US crude tanks and fears over the strong dollar’s impact on global oil demand pushed oil prices to two-month lows Thursday, before they rebounded in early trade Friday. Official US Energy Information Administration figures released Thursday showed crude stocks falling just 2.2 million barrels in the week ending Jul. 1, much less than the market had been expecting. Prices fell 5% before rebounding Friday as traders drew comfort from the fact that US crude tanks have actually fallen steadily for the last two months on lower domestic production.