Oil prices mixed as coronavirus concerns undercut support from lower U.S. crude stocks

A 3D printed oil pump jack is seen in front of displayed stock graph in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

The two benchmark contracts rose more than 1% on Wednesday to their highest since March 6, completing a four-day rally, after the Energy Information Administration reported a much bigger than expected drop in U.S. crude stockpiles. [EIA/S] EIA data showed distillate stockpiles, which include diesel and heating oil, climbed to a 38-year-high, and gasoline inventories unexpectedly rose for a second week in a row.

The U.S. EIA calculated gasoline demand remains around 8.6 million barrels per day, around 10% lower than a year earlier, just as the U.S. driving season, which ANZ Research called the “world’s biggest seasonal demand period”, was winding down.

This shows how we are fooled by them

Kremlin must for printing new stocks of local currency ( weighted in couple of thousands tones )

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