Crude oil inventories were expected to rise by 2.005 million barrels for the week ending on February 21. The actual result is a smaller build of only 0.452 million. West Texas Intermediate (WTI) has topped $50 in the immediate aftermath.
WTI has been struggling to hold onto the $50 level amid coronavirus fears. A global slowdown – or even a recession – triggered by the respiratory disease is set to reduce demand for the black gold.


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