Oil Gains Amid Equity Advance and Declining U.S. Fuel Supplies - Bloomberg

Oil climbed amid broader market gains and after a U.S. government report showed declining fuel and distillate stockpiles during the high-demand summer driving season.

Futures rose as much as 4.5% in New York on Wednesday with U.S. equities advancing on better-than-expected corporate growth during earnings season. Domestic distillate supplies fell by the most since mid-May and gasoline stockpiles also dropped last week, according to an Energy Information Administration report.

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July 21, 2021 at 06:46AM
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Oil Gains Amid Equity Advance and Declining U.S. Fuel Supplies - Bloomberg
"oil" - Google News
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