Oil traded lower on Thursday, amid strengthening US dollar after the Fed signaled it might raise interest rates earlier than expected. News that Beijing would issue new rules on the management of price indexes for key commodities and services starting from August 1st also dented sentiment. Limiting the losses, refinery throughput in China rose by 4.4% yoy in May to a record high. Meantime, the EIA reported that US crude oil inventories fell 7.355 million barrels in the June 11th week, a fourth straight period of drop and the largest since the last week of April. On the supply side, OPEC+ agreed to keep to their plan to gradually ease supply curbs through July.
