Crude Oil Price Prediction – Crude Oil Markets to Remain Consolidated
Tuesday’s trading session on the crude oil markets has been relatively turbulent as prices remain within a very well-defined range.
Tuesday’s trading session on the crude oil markets has been relatively turbulent as prices remain within a very well-defined range.
Crude oil markets have retreated slightly to start the trading week, as the market continues to trend sideways.
The crude oil market has fluctuated during Thursday’s trading session, but the overall sentiment remains negative.
Oil prices inched higher on Thursday as the market weighed weak demand against supply disruption due to an impending train slowdown in the United States, the largest petroleum consumer in the world.
WTI increased by almost $1.0 on Wednesday as risk assets rallied more broadly as a result of lower-than-anticipated US inflation data. The announcement that oil shipments through the Druzhba pipeline have resumed and mixed US inventories limited the upside. Both copper and gold reached new one-month highs, albeit gold ultimately declined due to risk-on movements.