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WTI Crude Slips as Rising Global Supplies and Weak Demand Outlook Weigh

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The Story

News Summary

  • WTI crude oil prices turned lower as Persian Gulf tanker traffic recovered, increasing global supplies.
  • Additionally, surging Russian exports, Iraq's threat to exit OPEC, and an IEA forecast of declining global oil demand continue to weigh on the market, offsetting support from Ukrainian drone attacks on Russian refineries.
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Stored market data

WTI price history

100.05 +69.03% over the displayed period

Advisor Snapshot

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