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Crude Oil finds support as market focus shifts back to supply

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Crude Oil finds some support and stabilzes on Wednesday after over 4% correction the previous day when Israel refrained from responding firmly to the recent attacks from Iran.

Crude Oil consolidates after a downbeat Tuesday with more than 4% losses. Markets are assessing the situation in the Middle East, and President Biden is set to speak to Israel’s Prime Minister Netanyahu. The US Dollar Index swings up and recovers initial weekly losses. Israel has been halted by United States President Joe Biden, who asked not to attack Iranian oil fields and vital infrastructure.

influence the price of WTI Oil? decides to lower quotas, it can tighten supply, pushing up Oil prices. When

 

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