Read more
5:21 PM ยท 7 August 2024

WTI crude oil gains 3% and returns above $75 a barrel ๐Ÿ“ˆ

-
-
Open account Download free app

WTI crude oil prices rose 3% on Wednesday, rebounding from multi-month lows, after DOE data showed a larger-than-expected drop in US crude inventories. US crude inventories fell for the sixth week in a row, shrinking by 3.7 million barrels to a total of 429.3 million barrels last week, according to EIA data. Analysts had estimated that inventories would fall by just 700,000 barrels. 

As the seasonal data shows, oil supply is below average for this time of year. What's more, a big risk element in this aspect is the specter of an escalating conflict in the Middle East. The region is bracing itself for a possible new wave of attacks by Iran and its allies following last week's assassinations of senior members of Hamas and Hezbollah militants. Supporting the bearish view on demand, Chinese trade data showed that July daily oil imports fell to the lowest level since September 2022. Significantly, China is the world's largest oil importer.

Source: xStation 

12 February 2026, 7:03 PM

Daily summary: Silver plunges 9% ๐ŸšจIndices, crypto and precious metals under pressure

12 February 2026, 4:41 PM

๐ŸšจGold slumps 3% amid markets preparing for Chinese Lunar Year pause

12 February 2026, 4:19 PM

Cocoa falls 2.5% to the lowest level since October 2023 ๐Ÿ“‰

12 February 2026, 4:08 PM

NATGAS muted amid EIA inventories change report

Join over 2 000 000 XTB Group Clients from around the world
The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissรฃo de Valores Mobiliรกrios (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits