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Latest forecast of crude oil draw: pretty significant to lift the price up further

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API crude oil draw

The American Petroleum Institue, API, predicts a crude oil draw of over 8 million barrels for the week ending June 10. Although forecasts of this nature and real figures, occassionaly diverge from each other, the overall sentiment, based on the sheer size, clearly shows that the demand of the commodity has reached the point of no-return. Understandably, crude oil markets respond in a positive way. More on that is here:

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