(Bloomberg) — Oil held a rebound in the previous session as industry data pointed to a drop in U.S. gasoline stockpiles and after a report that China will buy more crude for its strategic reservesFutures in New York traded near $38 a barrel after rising 3.5% Wednesday. The American Petroleum Institute reported gasoline inventories fell by 6.89 million barrels, while crude stockpiles climbed by almost 3 million barrels last week, according to people familiar with the data.See also: Oil Market Buckles Under Pressure of Pandemic’s Second WaveChina’s next five-year plan beginning in 2021 will call for increases to its mammoth …read more
Source:: Yahoo Finance
