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Oil Price Slips As US Crude Stock Build
Crude oil prices have declined after a larger-than-expected increase in U.S. crude inventories. The Energy Information Administration reported a rise of 5.8 million barrels in U.S. oil supplies last week, far exceeding the forecasted 2-million-barrel build. Additionally, oil prices were pressured by the possibility of de-escalation in the Middle East conflict. Reports indicate that Lebanese militant group Hezbollah is seeking a diplomatic ceasefire after the airstrike in Damascus. Qassem, one of Hezbollah’s remaining leaders, expressed the group’s readiness to agree to a ceasefire without any conditions, a ... (full story)
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- Posted: Oct 9, 2024 10:46pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 105
