Oil falls to near two month low – ANZ

Research Team at ANZ, notes that the oil price fell to its lowest level in almost two months after an EIA report showed that inventories fell by less than expected.

Key Quotes

“The EIA report said crude supplies fell 2.22 million barrels in the week ended July 1. Earlier in the week the American Petroleum Institute had reported that crude inventories had declined by 6.7 million barrels.”