WTI oil faced strong resistance near the $77 level and pulled back below $76.
Oil markets moved lower as traders focused on the lower-than-expected inventory draw.
Global oil prices fluctuate amid U.S. demand concerns, China's policies, but bolstered by Russia's planned supply cuts and declining US inventories.
Global oil prices rose on Wednesday, boosted by China's pledge to support economic growth, tighter supply from Russia and on lower weekly U.S. crude oil inventories.

Oil futures mark first gain in 3 sessions

02:46pm, Tuesday, 18'th Jul 2023
Oil futures finished higher on Tuesday, marking their first gain in three sessions. “With OPEC discipline acting to stem oil price declines, energy traders could remain in buy-the-dip mode until pro
WTI oil climbed back above the $75 level, while Brent oil moved towards the $80 level.
The crude oil market has shown itself to be somewhat stagnant during the trading session on Tuesday, as we have rallied a bit, but very little compared to the previous couple of days.

Citigroup's Ed Morse Sees $90 Ceiling for Crude

09:25am, Tuesday, 18'th Jul 2023
Ed Morse, global head of commodities research at Citigroup, says without "wild card" weather-related disruptions he expects crude oil to remain below $90 on "Bloomberg Surveillance." --------

Oil edges higher after back-to-back declines

07:40am, Tuesday, 18'th Jul 2023
Oil futures rose modestly early Tuesday, stabilizing after back-to-back declines as investors await U.S. supply data.
WTI oil prices are higher as investors anticipate tightening in US supplies, while weak Chinese GDP data casts caution on oil prices, capping gains.
Oil prices edged higher in early trade on Tuesday after sinking in the previous session on weaker-than-expected Chinese economic growth, as investors eyed a possible tightening of U.S. crude supplies.
(Kitco News) - A recession-free soft landing for the U.S. economy will send commodity prices skyrocketing as global demand picks up, according to Kitco Senior Market Analyst Jim Wyckoff.
Daan Struyven, Goldman Sachs head of oil research, joins 'Power Lunch' to discuss trends in the oil market.

Oil futures post back-to-back losses

02:49pm, Monday, 17'th Jul 2023
Oil futures declined for a second straight session on Monday, with U.S. prices down nearly 2% for the session. “Chinese GDP data that confirmed the economy's weakness” pressured oil prices, StoneX
Analysts rushed to cut China growth forecasts, which served as an additional bearish catalyst for oil markets.
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