Oil prices have been rangebound throughout May, but promising inflation data and falling U.S. crude inventories may soon spark a rally.
Oil prices have remained rangebound this month, but falling inventories and a slowdown in U.S. inflation could provide the spark for a breakout. Friday, May 17th 2024Crude prices continue to trend within a very narrow range, confined within $82 and $84 per barrel over the course of May, and despite this week’s improving macroeconomic outlook Brent futures continue to be rangebound. That said, a slight US oil inventory drop and US inflation slowing down to a monthly rate of 0.
the national oil company of the UAE, is planning to expand its operations into the US market by setting up a trading desk in the States while also looking for larger LNG exposure in the shale patch with ongoing talks on Rio Grande LNG. Colombia Turns Off Pipeline Due to Theft.
WTI Brent Demand Supply Inflation Inventories Rally
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