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QP - Oil rises on signs of economic recovery from pandemic - June 8, 2020
The WTI front-month climbed steadily last week to a Friday close of $39.55/bbl, lifted 11% on the week by an unexpected crude inventory draw and a surprisingly strong US jobs report. The EIA on Wednesday reported that commercial crude stocks fell 2.08 MMbbl the week that ended May 29, defying consensus expectations of about a 3 MMbbl build. On Friday, the Bureau of Labor Statistics reported that the US regained 2.5 million jobs in......
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