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Crude Oil Prices Fall on Large Stockpiles Build, OPEC+ Honors Output Cuts


Crude Oil Prices Fall on Large Stockpiles Build, OPEC+ Honors Output Cuts
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Australian Dollar slips as AU CPI disappoints across the board. 1.1% y/y versus 1.4% expected and 0.6% q/q versus 0.9% anticipated in Q1
CRUDE OIL PRICE OUTLOOK:
API reported a 4.32-million-barrel increase in crude inventories for the week ending April 23rd
OPEC+ scrapped a meeting scheduled today as the oil cartel made no change to its tapering plan
The DXY US Dollar index rebounded ahead of the FOMC press release, weighing on commodity prices ....

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Crude Oil Prices Fall on Rising Stockpiles and Viral Resurgence


Crude Oil Prices Fall on Rising Stockpiles and Viral Resurgence
of clients are net short.
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of clients are net short.
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of clients are net short.
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of clients are net short.
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CRUDE OIL PRICE OUTLOOK:
Viral resurgence dented risk appetite, pulling oil prices from five-week highs
WTI has likely formed a “Double Top” pattern on the 4-hour chart, hinting at further losses
Crude oil prices extended lower during Wednesday’s APAC trading session amid a broad ‘risk-off’ mood. Viral resurgence in some of the world’s major oil importing countries, such as India and Japan, dented the prospect for energy demand. Crude oil prices fell from five-week highs. A worsening pandemic situation in thos ....

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