WTI crude oil stays defensive near $73.00 amid softer China inflation, cautious optimism – by anilpanchal7 Oil WTI Inflation Commodities Energy
old justifies downbeat inflation data from China and the US amid mixed sentiment and the price-negative Oil inventories.
On Wednesday, US Consumer Price Index eased to 4.9% YoY for April versus market expectations of reprinting 5.0% inflation mark, marking the first below 5.0% print in two years. The MoM figures, however, matched the upbeat 0.4% forecasts compared to 0.1% previous readings. Further, the CPI ex Food & Energy, known as the core CPI, matched 5.5% and 0.4% market consensus on a yearly and monthly basis respectively versus 5.6% and 0.4% priors in that order.
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