Oil futures rise Wednesday, extending a bounce from a recent pullback as investor appetite for risky assets revives, despite industry data showing an...
Oil futures rose Wednesday, extending a bounce from a recent pullback as investor appetite for risky assets revived, despite industry data late Tuesday showing an unexpected rise in U.S. crude inventories ahead of a government storage report on Wednesday.
Oil bounced higher on Tuesday, with the U.S. benchmark rebounding from a 7.5% fall on Monday that marked its biggest one-day drop since March. Equity markets and other assets perceived as risky, which were also slammed on Monday, have also rebounded sharply on ideas worries over the spread of the delta variant of the coronavirus that causes COVID-19 were overdone.
“Wednesday’s EIA report has the potential to put a floor in the market or accelerate the slide in prices.
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