MTECHTIPS;-Crude oil gain in Asia with U.S. inventory data a mixed

MTECHTIPS;-Crude oil gain in Asia with U.S. inventory data a mixed picture

MTECHTIPS- Crude oil prices rebounded in Asia on Thursday as investors saw buying opportunity on an overnight dip on mixed U.S. inventory data. Record refinery runs in the U.S. are drawing down crude stocks, but gasoline produced is not seeing expected strong demand as the summer driving season heads to a close, said Matt Smith, director of commodities, Clipper Data. On the New York Mercantile Exchange crude futures for September delivery rose 0.24% to $46.89, while on London’s Intercontinental Exchange, Brent gained 0.44% to $50.49 a barrel. Overnight, crude futures settled lower on Wednesday, as data showing U.S. crude production rose to its highest in over two years offset a decline in supplies of U.S. crude for a seventh-straight week. Crude oil fell for the third-straight day, after a report from the Energy Information Administration (EIA) showing crude stockpiles fell by more than expected last week failed to offset concerns over a rise in production

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