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September 01, 2020 1:26pm
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WTI Extends Gains Despite Massive Crude Build, Production Increase

Oil prices rallied overnight despite a huge crude inventory build reported by API, with traders shrugging it off as likely driven by the impact of the nationwide ‘deep freeze’ and refinery shut-ins distorting the data. Additional optimism over China’s demand outlook (after the government issued a bumper batch of import quotas, spurring hopes of improved crude consumption) offset […] Source
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