Energy Industry News

Crude Oil slips back on Tuesday, WTI falls to $80.50 after API reports another surprise buildup

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 32 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 72%

Oil News

WTI,OPEC

West Texas Intermediate (WTI) US Crude Oil eased back on Tuesday, slipping over a dollar per barrel from $81.50 to test below $80.50 as bullish Crude Oil sentiment continues to sour with hopes for a summertime drawdown dwindling and a surprise buildup in US Crude Oil stocks hampering upside potential in energy markets.

WTI falls back once more from $81.50 as near-term chart churn continues. API weekly Crude Oil counts reported another unexpected increase in reserves. Middle East tensions keep Crude Oil risk bid elevated, but weakness persists. West Texas Intermediate US Crude Oil eased back on Tuesday, slipping over a dollar per barrel from $81.50 to test below $80.

member states grow weary of propping up global energy prices at the expense of their government budgets, which rely on Crude Oil sales to balance the books. Economic Indicator API Weekly Crude Oil Stock API’s Weekly Statistical Bulletin has reported total U.S. and regional data relating to refinery operations and the production of the four major petroleum products: motor gasoline, kerosene jet fuel, distillate , and residual fuel oil.

is a group of 13 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in ERROR

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crude Oil rally stumbles after Fed leans away from rate cuts, WTI falls back below $78West Texas Intermediate (WTI) US Crude Oil rose through Wednesday’s early trading, hitting a fresh June high near $79.00 per barrel before slumping back below $78.00 after the Energy Information Administration (EIA) reported another buildup in US Crude Oil supplies coupled with another Federal Reserve (Fed) rate hold.
Source: FXStreetNews - 🏆 14. / 72 Read more »