Showing posts from February 19, 2023

Crude oil prices continue to remain static as crude inventories build

  The price of crude oil has remained static during the first three days of this week, completely in line with the recent trend. As of 16:20 GMT, the price of WTI, Brent and LNG, liquified natural gas, recorded $74.62, $81.31 and $2.19 respectively - hardly a significant deviation from the recent, respective prices. Crude oil price on Wednesday The API, American Petroleum Institute, meanwhile, released its weekly data on the US crude stocks on Wednesday, which hardly is a catalyst for the struggling crude oil markets: the API said that there was a second, consecutive, massive crude build of 9.895 barrels - almost 10 million.  At the time of writing this article, both analysts and investors were awaiting the latest US crude inventory data from the EIA, US Energy Information Administration. Both the API and EIA reported a massive crude oil build last week, reflecting the prevailing consumer apathy.  If the latest data from the EIA confirms yet another crude build during the last week, it

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