Crude eases early Thu after API reports US stock-build - 15 Nov 2018
- Crude futures resumed their journey downhill early Thursday in Asia after notching modest gains in the West the previous day, pressured by another sizeable weekly build in US crude inventories reported by the American Petroleum Association.
- Analysts had expected to see an increase in commercial crude stocks in the US for the week ended November 9, but not as big as the 8.8 million barrels reported by API.
- Crude, which has been incessantly battered for the past fortnight amid expectations of oversupply in 2019, found support in Wednesday’s session from the prospect of another OPEC production cut.
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