Oil Pares Risk-Off Decline With US Inventory Drop in Spotlight.

"Despite a sharp drawdown in inventories, crude fell on a broader risk-off tone", said Charu Chanana, market strategist at Saxo Capital Markets Pte in Singapore. (Bloomberg) -- Oil edged higher after posting the biggest loss in five weeks as traders took stock of a broad shift away from risk assets that countered signs of a tighter global crude market, including a record drop in US inventories. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)