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
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