The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 3.04 million barrels in the week ending January 16. Crude oil inventories increased by 5.27 million barrels in the week prior.
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Gold Slip Ahead of Fed Minutes
Gold Silver Reports → Gold rose on Wednesday ahead of minutes of the Federal Reserve’s latest meeting, snapping three days of losses, as expectations that U.S. interest rates will stay lower for longer sharpened appetite for the metal.
U.S. Crudeoil Prices Big Jumps Back above $30 a Barrel
Gold Silver Reports → U.S. crudeoil prices big jumps back above $30 a barrel on Tuesday as news of a rare private meeting of top officials from the world’s biggest oil producers spurred speculation of an eventual deal to tackle a deep supply glut.
Crude Oil Recovering Prices, Bulls Eye Output Cuts
Gold Silver Reports → Even as West Texas Intermediate futures once again approach $25 a barrel with the U.S. benchmark at its cheapest in more than 12 years, some investors have started betting on a rebound in hopes of crude oil production beginning to slow.
