WTI Crude Futures Surge, Eyes on OPEC Report
On Monday, WTI crude futures surpassed the $78.5 per barrel mark as oil traders eagerly awaited insights from OPEC regarding global balances.
Read MoreOn Monday, WTI crude futures surpassed the $78.5 per barrel mark as oil traders eagerly awaited insights from OPEC regarding global balances.
Read MoreOn Friday, WTI crude futures approached $80 per barrel, marking a third consecutive session of gains and poised for a robust weekly rise due to an optimistic global demand outlook and ongoing tensions in the Middle East.
Read MoreWTI crude futures surged above $79 per barrel on Thursday, building on gains from the prior session following official data revealing a decrease in US crude stockpiles, indicating a tighter supply.
Read MoreThe US Energy Department's announcement of a bid to purchase 3.3 million barrels to refill the strategic petroleum reserve initially lifted oil prices in the session, but they eventually ended lower.
Read MoreWTI crude futures remained steady around the $78.6 per barrel mark on Tuesday, hardly budging from the near-two-month low of $78.1 registered on May 3rd.
Read MoreWTI crude oil futures climbed above $78.5 per barrel on Monday, marking a slight increase from the recent low of $78.1 seen in the previous session.
Read MoreOn Wednesday, WTI crude futures fell below $81 per barrel, marking the third consecutive decline.
Read MoreCrude oil prices are currently facing downward pressure due to potential advancements toward a ceasefire between Israel and Hamas, which has reduced geopolitical risk perceptions in the market.
Read MoreOil prices declined on Monday morning despite a tight supply, as investors adopted a cautious stance ahead of the Federal Reserve's policy meeting scheduled for this week, where interest rates are expected to remain unchanged.
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