WTI drops to near $73.00 due to builds in US Oil stockpiles

📆 6/5/2024 3:05 AM
📰 FXStreetNews

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Oil News

WTI,Commodities,Macroeconomics

West Texas Intermediate (WTI) Oil price has dropped to four-month lows, trading around $73.10 per barrel during the Asian session on Wednesday.

WTI price continues its losing streak as US crude Oil stocks surged by 4.052 million barrels in the last week.

allowed eight member countries to gradually unwound Oil cuts starting in October. Oil traders monitor the Israel-Hamas situation, as the failure of a peace deal could bolster crude Oil prices. West Texas Intermediate Oil pricehas dropped to four-month lows, trading around $73.10 per barrel during the Asian session on Wednesday. The American Petroleum Institute’s Weekly Statistical Bulletin reported that crude Oil stocks surged by 4.

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