Crude Oil Plunges 4.8% To 2-month Low

Crude oil futures plunged Thursday after the U.S. Energy Information Administration reported that domestic crude supplies declined by 2.2 million barrels for the week ended July 1.

Traders were expecting a much larger draw down because the American Petroleum Institute late Wednesday reported that crude supplies fell 6.7 million barrels.

August WTI crude fell $2.29, or 4.8%, to settle at $45.14 a barrel on the New York Mercantile Exchange, the lowest in two months.

The material has been provided by InstaForex Company –

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  Symbol Bid Ask Spread
EURUSD 1.23500 1.23520 2
  Symbol Bid Ask Spread
GBPUSD 1.41990 1.42020 3
  Symbol Bid Ask Spread
USDJPY 107.400 107.420 2
  Symbol Bid Ask Spread
EURGBP 0.86960 0.86990 3
  Symbol Bid Ask Spread
EURCHF 1.19910 1.19940 3

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