As a result of waning worldwide economic activity, as shown by the S&P worldwide PMIs, WTI crude oil declined to $77.68 per barrel, down 0.54%, before improving to $79.01 at the time of writing. While oil stockpiles decline by 6.1 million barrels, US petrol inventories increase by 1.5 million barrels, …
Read More »WTI price benefits from supply fears
US crude oil prices reclaim the $100 level on supply issues. Russia’s halt of a Kazaks terminal cut supply by 1.2 million BPD.Oil prices rise on Thursday, jumping from weekly lows around $95.13, as the US dollar retraces from two-year highs and recession fears abate. At the time of writing, …
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