Oil Prices Steady Amid Geopolitical Tensions and Supply Concerns
WTI 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 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.
Read MoreCrude oil prices saw a slight increase early Friday, positioning themselves to break a two-week losing streak, fueled by renewed optimism about the US economic outlook.
Read MoreThe US Energy Information Administration (EIA) stated that US crude oil inventories decreased by 6.4 million barrels to 453.6 million barrels for the week ending April 19.
Read MoreConcerns over a potential escalation of geopolitical tensions in the Middle East have diminished after Iran indicated it would not retaliate against a limited-scale missile strike by Israel.
Read MoreWTI crude futures dipped on Tuesday, approaching a four-week low after Iran decided against escalating tensions with Israel.
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