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At Close: Jun 04, 2026

Crude Oil Price Forecast – Crude Oil Plunges

10:33am, Thursday, 22'nd Jun 2023
Crude oil got whacked during the trading session on Thursday, as we continue to see the global concerns of a slowdown work against it.
Crude oil futures are lower as rate hike concerns arise, but an unexpected draw in API stocks provides a boost to market sentiment.
Oil prices held on to most of the previous day's gains in early trade on Thursday as markets weighed an unexpected draw in U.S. crude oil stocks against the prospect of weaker demand after the Federal
Muted increases in U.S. oil production and cuts by the OPEC+ producing-nations group will limit crude supply in the months ahead, pushing up prices, an executive at U.S. shale producer EOG Resources s
U.S. crude oil inventories at the Cushing, Oklahoma, storage hub have risen to their highest in two years, as outages at Midwestern refiners crimp demand and higher flows from Canada add to supply.
Oil supply may be cut by 250,000 bpd if the southern route of Druzhba pipeline is included in the final version of the new sanctions package.
U.S. crude oil refining capacity has reversed two years of declines and climbed by more than 100,000 barrels, to 18.1 million barrels per day (bpd), according to a government report released on Wednes
The crude oil markets have rallied just a bit during the trading session on Wednesday but still face the 50-Day EMA above.

Oil steadies ahead of testimony by Fed's Powell

08:05am, Wednesday, 21'st Jun 2023
Oil futures steadied early Wednesday as investors awaited congressional testimony by Federal Reserve Chair Jerome Powell amid worries over tightening monetary policy by major central banks and the out
WTI oil prices bounce back as investors anticipate hawkish comments from Fed Chair Powell and a potential U.S. crude stock draw.
Oil prices weakened on Wednesday, extending falls to a third straight day, as the dollar strengthened on a U.S. housing market recovery while fears persisted that monetary stimulus may not be enough t

Oil prices slide amid potential China stimulus

06:41pm, Tuesday, 20'th Jun 2023
Yahoo Finance markets reporter Ines Ferre breaks down energy markets' risk-off sentiments as China considers proposed economic stimulus.
China's rate cuts met analyst expectations but traders wanted to see a more aggressive approach.
The crude oil markets tested the 50-Day EMA on Tuesday, only to turn around and fail again.
China's disappointing rate cut raises oil demand worries; surging crude exports from Iran and Russia counteract OPEC+ cuts, adding to supply concerns.
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