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Oil Prices Extend Slump After Higher-Than-Expected US Supply Build

From fxdailyreport.com

Crude oil futures slumped in the middle of the trading week as renewed demand concerns weighed on energy commodities. Oil prices had been on a tear this year but have experienced a pullback in recent sessions following Iran’s failed aerial assault on Israel. But while geopolitical tensions ease, market watchers still believe supply concerns should be more prevalent across energy markets. May West Texas Intermediate (WTI) crude oil futures tumbled $0.52, or 0.61%, to $84.84 per barrel at 14:59 GMT on Wednesday on the New York Mercantile Exchange. US crude prices have slumped about 1.6% this week but remain up around ... (full story)

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  • Category: Fundamental Analysis