The futures of oil gave up some of the gained ground on Thursday over supply worries. West Texas Intermediate experienced its biggest one-day rise since the end of December.
Market Watch Report stated, “Crude prices climbed Wednesday after the Energy Information Administration said U.S. inventories rose just 1.8 million barrels in the week ended Feb. 9, coming in well under the 2.6 million-barrel rise that had been forecast by a survey of analysts by The Wall Street Journal. It also undershot data from the American Petroleum Institute that indicated a 3.9 million barrel rise.”
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