WTI Extends Gains Despite Huge Crude Build, Surge In Cushing Stocks

Oil prices are rebounding this morning, after yesterday’s growth-scare-driven tumble as investors wagered China’s demand revival would sustain the market even amid signs of rising US crude inventories (reported by API overnight). “The reopening is proceeding sooner (by one quarter) and more rapidly than we originally expected,” JPMorgan analysts, including Natasha Kaneva, wrote in a note […] Source