Oil prices tick higher on US inventory draw; Fed, CPI awaited
==========
Oil prices rose in Asian trade after US inventories shrank more than expected. Brent oil futures rose 0.2% to $82.09 a barrel, while West Texas Intermediate crude futures rose 0.3% to $77.79 a barrel. US oil inventories saw a draw of 2.4 million barrels, more than expectations for a draw of 1.8 million barrels. The data suggests that US fuel consumption is picking up with the onset of the travel-heavy summer season. The Federal Reserve meeting and US inflation data are awaited for further market direction. OPEC maintains its outlook for strong global oil demand in 2024.
#OilPrices #UsInventoryDraw #FederalReserve #Cpi
https://uk.investing.com/news/commodities-news/oil-prices-tick-higher-on-us-inventory-draw-fed-cpi-awaited-3543684
Investing.com UK /
npub1em…ucllf
2024-06-12 02:18:42
Author Public Key
npub1em7dyua4kecyhe868eq29cthns4hkhssjykccv3j0hg9656nzm8s2ucllfPublished at
2024-06-12 02:18:42Event JSON
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"content": "Oil prices tick higher on US inventory draw; Fed, CPI awaited\n==========\n\nOil prices rose in Asian trade after US inventories shrank more than expected. Brent oil futures rose 0.2% to $82.09 a barrel, while West Texas Intermediate crude futures rose 0.3% to $77.79 a barrel. US oil inventories saw a draw of 2.4 million barrels, more than expectations for a draw of 1.8 million barrels. The data suggests that US fuel consumption is picking up with the onset of the travel-heavy summer season. The Federal Reserve meeting and US inflation data are awaited for further market direction. OPEC maintains its outlook for strong global oil demand in 2024.\n\n#OilPrices #UsInventoryDraw #FederalReserve #Cpi\n\nhttps://uk.investing.com/news/commodities-news/oil-prices-tick-higher-on-us-inventory-draw-fed-cpi-awaited-3543684",
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