WTI rises above $83.00 due to expected summer demand

WTI price extends gains due to increased expectations for higher US Oil demand during the summer travel season. American Automobile Association projects a 5.2% increase in travel, with car travel alone rising by 4.8% this year. Oil prices may gain ground as recent US inflation data raised the expectations of the Fed reducing rates in 2024. West Texas Intermediate crude Oil price extends gains for the second consecutive day on Tuesday, trading around the two-month high near $83.10 per barrel.

influence the price of WTI Oil? decides to lower quotas, it can tighten supply, pushing up Oil prices. When

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WTI consolidates gains near $82.00 amid hope for strong summer driving demandWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.00 on Tuesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

WTI holds above $80.00 amid geopolitical risks, demand optimismWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $80.50 on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

WTI holds below $78.00 amid weaker US consumer demand and Chinese dataWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $77.75 on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

WTI gains ground above $83.50 on geopolitical risks, summer demand optimismWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $83.60 on Tuesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »