WTI Holds Gains After Big Gasoline Inventory Draw, US & OPEC Production Jump | ZeroHedge
Oil prices are rising again this morning, despite a surge in OPEC+ production reported for February and also in spite of a large crude build reported by API last night.
The rise comes after the Energy Information Administration on Tuesday said it expects the market to remain under supplied until the third quarter.
Last month, the agency forecast that inventories would begin rising by the end of June.
A weakening greenback is also supporting prices as the currency suffers from (more…)