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At Close: Jun 08, 2026

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.
Oil traders stay focused on trade wars and fear that demand for oil will be weak.
President Donald Trump's wants to "drill, baby, drill" but his first 100 days in office have been rough for oilfield service firms. Baker Hughes and SLB see investment in drilling slowing this year as
Natural gas surges past $3.33 on breakout momentum while WTI and Brent slide amid OPEC+ supply risks and geopolitical uncertainty.
BP PLC's (LSE:BP.) first-quarter underlying profits came in well below forecasts, with higher debt and a smaller share buyback than expected.
British oil giant BP posted underlying replacement cost profit, used as a proxy for net profit, of $1.4 billion for the first three months of the year. That missed analyst expectations of $1.6 billion
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