Crude Oil Pares Rally Amid Signals of Expanding American Crude Surplus

Oil Tumbles

Gold Silver Reports (GSR) – Crude Oil Pares Rally Amid Signals of Expanding American Crude Surplus — Futures closed 0.3 percent higher in New York on Thursday, wiping away most of the gains made during the session. Data provider Genscape Inc. was said to report inventories at the key pipeline hub in Cushing, Oklahoma, expanded, taking the wind out of a rally earlier driven by an unexpected Arab Light crude price increase by Saudi Arabia, the world’s biggest oil exporter.

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Crude Oil Pares Rally Amid Signals of Expanding American Crude Surplus via @goldsilverrepor