Oil Prices Rise as US Releases Mixed Inventory Report

摘要

Oil futures ended a choppy trading session higher on Wednesday, as the market digested a report showing a decline in US crude inventories but increases in stocks of refined products. Speculation continued about the possibility of the US Federal Reserve taking further economic stimulus measures. Data released by the US Energy Information Administration (EIA) showed a draw of 4.7 million barrels on crude inventories for the week ended Jul. 6. Inventories now stand at 378.2 million bbl -- lower than they have been for several weeks, but still higher than at the same time last year.