Oil News

Crude Oil is trading at 72.17 as of 9:28am, London Time. Crude Oil’s Pool-Position is 76% Long, meaning that most Finotec clients are buying the commodity.

Crude Oil rises as investors predict that demand will increase and inventories decrease

Crude Oil is trading at 72.17 as of 9:28am, London Time. Crude Oil’s Pool-Position is 76% Long, meaning that most Finotec clients are buying the commodity.

Crude Oil rose on Wednesday, bolstered by a drop in U.S. distillate inventories and optimism that a slowdown in U.S. private job losses in July could signal a gradual turnaround in the economy. U.S. inventories of distillates which include heating oil as well as key fuels for industry such as diesel fell by 1.0 million barrels last week, according to the U.S. Energy Information Administration. Crude Oil is trading at 72.17 as of 9:28am, London Time. Crude Oil’s Pool-Position is 76% Long, meaning that most Finotec clients are buying the commodity.