Drop in U.S. stocks triggers oil price

A sharp drop in oil inventories in the United States caused commodity prices to rise on the morning of Wednesday (5), reaching the highest level since the beginning of March this year.

Despite this, concerns about a new wave of infections coronavirus and its impact on the economy continue to limit the earnings of the Market. Still, Brent crude rose $1.07, or 2.41%, to $45.5 million. per barrel at 7:59 a.m. PDT. The oil of the United States advanced 1.11 dollars, or 2.66%, to $42.81 per barrel.

It is worth remembering that u.S. commodity stocks retreated 8.6 million barrels in the week to August 1, to 520 million barrels, ahead of analysts' expectations of a drop of 3 million barrels, according to the American Petroleum Institute.


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