05 Oct, 23

Oil Prices Attempt To Recover After The Bullish Bubble Appears To Burst

UncategorizedNo Comments

Crude oil prices staged a hesitant recovery early on Thursday after the EIA’s latest inventory report sparked a massive drop in both WTI and Brent. Oil prices were already trending lower at the start of the week due to a combination of profit-taking and economic concerns, but reports of weak U.S. gasoline demand seemed to burst the bullish bubble. In the latest weekly petroleum report, the U.S. Energy Information Administration reported a build in crude oil inventories but a substantial increase in gasoline inventories. The report claimed…

Leave a Reply

Your email address will not be published. Required fields are marked *

This field is required.

This field is required.