WTI drops to multi-day lows near $80.00 ahead of API – by pabspiovano Oil Commodities Energy WTI
However, the likelihood of an economic slowdown appears to have encourage bears to return to the markets in light of firmer conviction of a 25 bps rate hike by the Fed at the May 3 gathering.
Later in the NA session, the API will report on US crude oil inventories in the week to April 14 ahead of the EIA’s report on Wednesday.At the moment the barrel of WTI is down 0.62% at $80.43 and a breach of $79.05 would open the door to $66.86 and then $64.41 . On the upside, the next hurdle is located at $82.56 followed by $83.37 and finally $92.90 .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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