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WTI Slips As Inventories Draw But Production Hits New Cycle High

WTI Slips As Inventories Draw But Production Hits New Cycle High

 

zerohedge.com / by Tyler Durden / Jul 12, 2017 10:39 AM

WTI has extended gains (on weaker dollar) from last night’s ‘bullish’ API data in a deja-vu of last week, and DOE data (showinglarge draws in Crude and Gasoline) confirmed continued rebalancing. However, once again mimiccing last week’s action, prices were not exuberant as another surge in production – to new cycle highs – stymied some of the excitiment.

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