Crude Oil Tumbles as US Inventory Surprisingly Increased; FOMC More Upbeat on Outlook

Crude oil prices slumped on disappointing US inventory report. The front-month WTI and Brent crude contract fell -2.33% and -3.125 respectively. Heating oil and gasoline prices also declined -2.34% and -1.77% respectively. The FOMC meeting turned out more hawkish than expected. Policymakers, while leaving the powder dry as expected, turned more upbeat on economic developments.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/crude-oil-tumbles-as-us-inventory-surprisingly-increased-fomc-more-upbeat-on-outlook-2016072833344/