Market Movement

Oil futures prices waffle in indecisive marketFutures prices for crude and petroleum products seesawed early last week, culminating in a midweek uptick when a big build in US oil inventories, anticipated by traders, failed to materialize.Instead, the US Energy Information Administration said US crude stocks declined by 800,000 bbl to 287.2 million bbl during the week ended May 2. The American Petroleum Institute reported a fall of 2.4 million bbl to 286.2 million bbl for the same period. API said US gasoline stocks increased by 1.5 million bbl to 208.2 million bbl and that distillates were up 1.1 million bbl to 97.6 million bbl. EIA pegged the rise in gasoline stocks at 2.2 million bbl to...

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