Oil bounces back to finish the day higher after US inventory report


Build in crude and products wasn’t as much as feared

Build in crude and products wasn't as much as feared

The turnaround in risk appetite and a smaller-than-feared build in weekly US inventory data led to a rebound in crude prices today. WTI finished up 63-cents to $71.87.

The main factor was a series of reports saying Trump will delay a decision on US auto import tariffs by six months. That means he won’t be fighting a tariff war on two fronts and cuts a series of risks around trade.

In the aftermath crude has rebounded while US equities have turned a 10-point loss into a 24-point gain.


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