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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 17/Jul 14:32

WTI recovers to $80 on declining US oil stockpiles

West Texas Intermediate (WTI) recovered its intraday losses, trading around $80.00 per barrel in European markets on Wednesday. The decline in the US Dollar contributed support for the crude demand, underpinning the oil prices. Additionally, the oil price has support due to the declining U.S. stockpiles, the world’s largest oil producer and consumer. The American Petroleum Institute (API) reported a decline of 4.4 mln barrels in weekly crude oil stock for the week ending July 12. Analysts surveyed by Reuters had estimated a smaller decrease of 33,000 barrels. The US Energy Information Administration (EIA) will release its official storage report

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