Reported about 1 month ago
Oil prices held steady near their lowest levels since June 2023 as reports indicated a significant drop in US crude stockpiles. Brent crude traded under $73 per barrel, while WTI hovered around $69. Despite ongoing concerns about the economic outlook and sufficient supply, the American Petroleum Institute revealed a reduction of 7.4 million barrels in crude inventories, potentially the largest decline since June. Experts suggest that a rebound in financial demand could occur, even as prices face further risks.
Source: YAHOO