Crude Oil rises slightly but still below $50 as investors await inventories

Japan’s crude oil imports fell in March for a fifth month, declining 18.4 percent from a year earlier to about 3.68 million barrels a day

Japan’s crude oil imports fell in March for a fifth month, declining 18.4 percent from a year earlier to about 3.68 million barrels a day

Oil rose for the second day on Wednesday, nearing $49 a barrel on support from Wall Street and bullish data on U.S. oil inventories, although gains were tempered by weak demand data from major consumers. Japan’s crude oil imports fell in March for a fifth month, declining 18.4 percent from a year earlier to about 3.68 million barrels a day, a finance ministry preliminary trade report released in Tokyo showed. Crude Oil is trading at $48.50 as of 9:10am, London Time. Crude Oil’s Pool-Position is 95% Long, meaning that most Finotec Clients are buying the commodity.

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