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Oil prices fell on Wednesday after the API reported an unexpected 806,000-barrel rise in US crude stocks, versus an expected draw of about 4.5 million barrels. Brent fell 0.8% to $68.83 and WTI dropped 0.7% to $66.70.
A surprise inventory build and Delta-related demand worries weigh on crude prices, and the price cut eases energy costs for feed producers.
cnbcafrica.comReutersJul 21, 2021After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.
After 129 past bearish report events, Crude Oil (Brent) moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% over 20.
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.
