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Oil recovered some of the prior day's losses on April 3 as the American Petroleum Institute reported a 3.28 million barrel drop in US crude inventories last week. Supplies at the Cushing, Oklahoma hub were reported to have surged, and prices tracked a recovery in equities.
Mixed inventory signals, with a national draw but a Cushing build, leave crude supply balance ambiguous, so prices are likely to stay range-bound with limited direct effect on feed commodities.
bloomberg.comJessica SummersApr 3, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
