WTI oil remains under bearish pressure, while natural gas continues to find support at $3.
Oil prices edged higher on Thursday, steadying slightly after sharp losses on the previous day driven by signs Saudi Arabia could produce more, and as the U.S. economy contracted in the first quarter.
Recent reports indicate that Saudi Arabia will not cut supply despite the strong pullback in the oil markets.
U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling over 1% on Wednesday.
Saudi Arabian officials are briefing allies and industry experts to say the kingdom is unwilling to prop up the oil market with further supply cuts and can handle a prolonged period of low prices, fiv

U.S. Crude Oil Stockpiles Post Unexpected Decline

11:14am, Wednesday, 30'th Apr 2025
U.S. crude oil inventories fell unexpectedly last week as exports increased and refineries raised their capacity use, according to data released Wednesday by the U.S. Energy Information Administration
Gasoline inventories decreased by 4 million barrels from the previous week.
During the Wednesday session, we saw both grades of crude oil that I follow. FX Empire test the lower part of the recent range.
Brent crude is expected to average $68.23 a barrel this year, while West Texas Intermediate is projected at $64.60 a barrel, an April survey showed.
Hess reported a drop in first-quarter profit on Wednesday, hurt by lower oil prices, though the shale producer still managed to beat Wall Street expectations.
OPEC+ shocked the market earlier this month with plans to ramp up crude output, setting oil prices up for their worst monthly performance in years. Now the group of oil producers might add even more b
Crude oil outlook turns bearish with China's slowdown, OPEC+ output risks, and a surprise U.S. inventory build weighing on futures.
Natural gas and oil prices plunge over 15% in April as rising inventories and recession fears trigger sharp selloffs across global energy markets.
Oil prices edged lower in early Asian trading on Wednesday as President Donald Trump's erratic tariff policies raised concerns about weakening global economic growth and fuel demand.
After failing to reclaim the 20-Day MA, crude oil broke down from consolidation, with further weakness likely below key levels at $60.27 and $58.86.
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