Oil Near $74 Amid Trump Tweets, Forecast Drop in U.S. Stockpile - Bloomberg:
Oil held near $74 a barrel amid estimates that U.S crude inventories declined for a fourth week, compounding concerns that global markets are growing increasingly tight. Futures in New York were 0.3 percent higher following the U.S. Independence Day holiday, remaining near the highest since 2014. President Donald Trump criticized OPEC on Twitter again for failing to lower prices for consumers. Although Saudi Arabia has pledged the organization will boost supplies, Goldman Sachs Group Inc. said that losses in some members -- notably Venezuela and Iran -- will lead to a new rally.
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