Oil Prices Waver as U.S. Stockpile Growth Meets OPEC+ Supply Cut Speculation Oil prices traded within a narrow range as the market balanced concerns over rising U.S. crude inventories with the anticipation that OPEC+ might prolong its supply reduction strategy. West Texas Intermediate (WTI) experienced a slight decrease, hovering around $78 per barrel, influenced by a broader risk-averse sentiment among traders. This reaction came after the Energy Information Administration reported a 4.2 million barrel increase in U.S. crude stockpiles last week, a figure that was less than half of what an industry report had previously estimated. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Market Predictions Shift: Fed Rate Cut Now Seen as June Event READ MORE Fed Rate Cut Hopes Dampened by Persistent Inflation and Strong Job Growth READ MORE Fed's Rate Hikes Propel Global Shift Away from U.S. Dollar, Says Atlantic Council READ MORE Towards Global De-dollarization: Iran Advocates for BRICS Digital Currency in 2024 READ MORE The Declining Yen: A Look into Its Battle Against the Dollar READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment
