6/22/2021 10:44:09 PM GMT | By Anil Panchal
WTI remains on the back foot for second consecutive day.
OPEC+ signals to increase production joins softer API inventory draw to probe bulls.
Growth prospects battle US-Iran tussles, covid woes to weigh on energy prices.
US PMIs, EIA Crude Oil Stocks Change will be important.
WTI prices remain lackluster, following the latest pullback, around $72.70, down 0.30% intraday, amid the early Asian session on Wednesday. The chatters over the OPEC+ discussion on output increase and higher-than-previous readings of private inventory data could be cited as the key catalysts for the black gold’s recent weakness.
As per the latest Weekly Crude Oil Stocks data from the American Petroleum Institute (API), for the period ended on June 18, inventories dropped 7.20 million barrels versus the previous draw of 8.54 million barrels.
Oil prices rise as US crude inventories fall; Brent crude reaches $75 23 per barrel
origin-businesstoday.intoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from origin-businesstoday.intoday.in Daily Mail and Mail on Sunday newspapers.
Oil resumes climb on large US oil stocks drawdown
channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.
Oil resumes climb as US crude inventories fall more than expected
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.