Oil Spikes After DOE Inventories Data Refutes API For 3rd Week In A Row, Production Drops
June 15, 2016 at 12:53 PM EDT
Distillates inventories rose for the 2nd week in a row and Cushing saw its biggest build in 5 weeks. However, oil prices are rising on the data as well as the fact that US production resumed its decline after last week's brief increase.