Market Shrugs Off US Inventory Build as Crude Moves Higher

摘要

Oil futures ended a volatile session higher on Wednesday as traders once again shrugged off a build in US inventories and focused on steady erosion in domestic production. Crude futures hit their highest levels of 2016 ahead of the US Energy Information Administration's (EIA) weekly report on petroleum stocks, but a nearly 2 million bbl build in crude inventories quickly cut the legs out from under the rally.