Crude oil prices closed higher Wednesday as crude inventories fell sharply

Wednesday (July 10) Trend Description:Fq5supported by overnight API data showing a drop in crude oil inventoriesEIA data released later also showed a sharp drop in crude inventories, while officials in the Fed's minutes were mostly in favor of doves, with crude oil prices expanding and breaking through the $106 markHowever, today's poor trading data in China could limit future oil price risesThe crude oil market closed higher wednesdayFq5
At $104.30-$104.60 early in the Asian session, crude oil prices fell slightlyIn the European session, the price of crude oil showed a volatile upward trendIn New York, crude oil prices extended their gains to a intraday high of $106.66 a barrelFq5
NYMEX crude futures hit a high of $106.66 a barrel, hitting a low of $104.21 a barrel, up $1.99, or 1.91 percent, at $105.99 a barrelFq5
Fundamentals:Fq5.UU.S crude inventories fell 9.87 million barrels to 373.92 million barrels in the week of July 4, an estimated 3.1 million barrels lower, according to data released Wednesday by the U.S Energy Information Administration U.S refinery equipment utilization rose 0.2 percent in the week of July 4 Fq5
U.S crude inventories fell 2.69 million barrels last week to a 2009 low as refinery utilization rose to its highest level in 2013 Fq5
Fundamental stake: Fq5 1.Opec said in its latest monthly report on Wednesday that global demand for the group's crude oil averagewased at 29.61 million barrels per day in 2014, a decrease of 250,000 barrels from 2013, as supply increases outside the group outstripped the expansion of global demand Global demand for crude oil will grow by 1.4 million barrels per day in 2014 as the economy improves, the highest increase since 2010 Fq5
China's exports fell 3.1 per cent year-on-year in June, the first decline since January 2012 and is expected to grow by 4 per cent, according to data released by China's customs authorities on Wednesday, after rising 1 per cent the previous month and 11.3 per cent a year earlier Fq5
Future outlook: Fq5 Manulife Asset Management director Chip Hodge said on Wednesday, "The market is already in a period of delivery delays, so it is a mistake to think that the market is oversupplied." Crude oil inventories are expected to decline more sharply in the future, and this trend will continue "Technically, the weekly chart crude oil price has broken through the key technical resistance position and will continue to rise in the future," said Fq5 analyst "
Fq5 Wednesday (July 10) Trend Description: Fq5 supported by overnight API data showing a decline in crude oil inventories EIA data released later also showed a sharp drop in crude inventories, while officials in the Fed's minutes were mostly in favor of doves, with crude oil prices expanding and breaking through the $106 mark However, today's poor trading data in China could limit future oil price rises The crude oil market closed higher wednesday Fq5
At $104.30-$104.60 early in the Asian session, crude oil prices fell slightly In the European session, the price of crude oil showed a volatile upward trend In New York, crude oil prices extended their gains to a intraday high of $106.66 a barrel Fq5
NYMEX crude futures hit a high of $106.66 a barrel, hitting a low of $104.21 a barrel, up $1.99, or 1.91 percent, at $105.99 a barrel Fq5
Fundamentals: Fq5 .U U.S crude inventories fell 9.87 million barrels to 373.92 million barrels in the week of July 4, an estimated 3.1 million barrels lower, according to data released Wednesday by the U.S Energy Information Administration U.S refinery equipment utilization rose 0.2 percent in the week of July 4 Fq5
U.S crude inventories fell 2.69 million barrels last week to a 2009 low as refinery utilization rose to its highest level in 2013 Fq5
Fundamental stake: Fq5 1.Opec said in its latest monthly report on Wednesday that global demand for the group's crude oil averagewased at 29.61 million barrels per day in 2014, a decrease of 250,000 barrels from 2013, as supply increases outside the group outstripped the expansion of global demand Global demand for crude oil will grow by 1.4 million barrels per day in 2014 as the economy improves, the highest increase since 2010 Fq5
China's exports fell 3.1 per cent year-on-year in June, the first decline since January 2012 and is expected to grow by 4 per cent, according to data released by China's customs authorities on Wednesday, after rising 1 per cent the previous month and 11.3 per cent a year earlier Fq5
Future outlook: Fq5 Manulife Asset Management director Chip Hodge said on Wednesday, "The market is already in a period of delivery delays, so it is a mistake to think that the market is oversupplied." Crude oil inventories are expected to decline more sharply in the future, and this trend will continue "Technically, the weekly chart crude oil price has broken through the key technical resistance position and will continue to rise in the future," said Fq5 analyst "
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