Oil falls further on US stock build, easing supply concerns
© Reuters. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford//File Photo
Gasoline inventories also rose by 3.6 million barrels, the data showed, a stark contrast from the 800,000-barrel drop expected by analysts and continued to stoke worries of slowing fuel demand in the U.S. Markets will be awaiting further inventory data cues from the U.S. Energy Information Administration due later in the day at 1430 GMT.
ING analysts also said:"The risk premium continues to erode with the conflict largely contained to Israel and Hamas."
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