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Opinion
Liam Denning

Oil Doesn't Care About Your So-Called Data

A troubling inventory buildup is having no impact.

The oil market just doesn't care about these "numbers," OK?

This week offered a prime example. On Wednesday, the Energy Information Administration released its usual roundup of oil inventory numbers. These came in somewhat wide of expectations: 9.5 million barrels of crude oil flowed into U.S. storage tanks last week, versus a median expectation of 3.5 million.