Crude Oil Edges Lower As Investors Parse U.S. Inventory Data Amid Deepening Gulf War

Crude oil reversed earlier gains and moved lower after briefly topping $100 a barrel, as U.S. inventory data indicated ample supply. Traders weighed the inventory overhang against ongoing production and supply-disruption concerns, producing intraday volatility in oil markets.

Analysis

Crude oil reversed earlier gains and moved lower after briefly topping $100 a barrel, as U.S. inventory data indicated ample supply. Traders weighed the inventory overhang against ongoing production and supply-disruption concerns, producing intraday volatility in oil markets.