Oil sees short-lived setback after US inventories data

FXStreet (Córdoba) – Oil prices saw a short-lived pullback following the release of US crude inventories data, which showed stock grew much more than expected last week.

Energy Information Administration reported US inventories rose by 2570K barrels in the week ended September 4, versus 200K expected.

Oil dropped to $45.00 a barrel following the release, but quickly bounced back to pre-data levels around $45.50, where it trades up 2.0% on the day.

Oil prices saw a short-lived pullback following the release of US crude inventories data, which showed stock grew much more than expected last week.

(Market News Provided by FXstreet)