Oil Prices Slide as US Crude Stockpiles Rise and Fuel Inventories Build
TL;DR Summary
WTI oil prices remained just above $70 as a crude oil inventory draw of 4.6 million barrels was offset by a significant inventory build in gasoline and a smaller one in distillates. The market is uncertain due to the latest production cuts from OPEC+ and concerns about Chinese energy demand growth. Some analysts are pessimistic, while others argue that the commodity is oversold. WTI front-month futures are now trading almost 15% lower than 30 days ago.
- Oil Falls on Mixed Inventory Changes in Crude, Fuels OilPrice.com
- US crude stockpiles fall, fuel builds as refining ramps up - EIA Reuters
- Private oil survey data shows headline crude build vs. the draw that was expected ForexLive
- U.S. Crude and Products Builds Send Oil Prices Lower | OilPrice.com OilPrice.com
- Oil drops on demand worries after US gasoline inventories swell Reuters
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