The Traderszone Network

Published in TZ Latest News 8 June, 2017 by The TZ Newswire Staff

Unexpectedly Bearish Inventory Data Upends the Oil Market

What a difference a day makes. The oil market was downright giddy on Tuesday, rebounding after traders made a bullish bet on government data. Yesterday, however, crude prices rolled over when that data turned out to be the opposite of what it expected. Instead of falling by more than 3.5 million barrels, which is what the market anticipated, crude oil inventories rose by 3.3 million barrels, according to a report by the U.S. Energy Information Administration.

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