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

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

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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.
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