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WTI pares intraday gains near $81.00 as higher EIA Crude Oil Stocks Change join recession woes

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WTI pares intraday gains near $81.00 as higher EIA Crude Oil Stocks Change join recession woes – by anilpanchal7 Oil WTI Recession CentralBanks Commodities

In doing so, the energy benchmark takes clues from the recent stabilization of the US Dollar, as well as hawkish comments from the Federal Reserve officials. On the same line could be the headlines suggesting the US recession and higher crude picks up bids to 102.

Change with 8.408M versus -1.75M expected and 18.962M prior, which in turn weighed on the WTI crude oil prices.

 

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