14.3 C
Munich

Oil in focus after WTI tagged $70

Must read


Oil now slightly lower on the day

Oil now slightly lower on the day

WTI crude oil is trading down 14-cents to $69.48 after touching $70.00 for a moment in early trading.

OPEC Secretary General Barkindo is upbeat in comments just crossing the wires. He said inventories will continued to fall in the coming months after declining by 6.9 million barrels in April. That’s down 160m barrels from this time a year ago.

“We expect to see further drawdowns in the months ahead,” he said while noting that compliance with cuts was 114% in April.

Invest in yourself. See our forex education hub.



Source link

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article