West Texas Intermediary (WTI) barrel prices are getting pushed back into recent highs for Thursday, rising into $88.30 per barrel after kicking the da
Crude Oil barrel bids are on the high side for Thursday. Global supply constraints remain a key narrative for light sweet crude. WTI traders may have overshot their expectations on increasing supply after Wednesday's announced Venezuela sanction easing. y off with an early decline into $85.50.
Despite waning demand amidst China's steepening economic slump, fossil fuels remain firmly undersupplied, and Middle East geopolitical concerns, fueled by the Gaza Strip escalation in the conflict between Israel and Palestinian Hamas, continue to weigh on energy traders with the critical Strait of Hormuz chokepoint nearby. WTI Technical Outlook Crude Oil's Thursday surge into fresh highs is seeing WTI hit its highest bids in almost two weeks with US barrel prices aimed straight at $90.
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