WTI Extends Gains After US Crude Stocks Hit Lowest Since 2022 | ZeroHedge
Oil prices are extending yesterday's gains this morning, after API reported a huge crude draw and the dollar weakness supportive. A military coup in OPEC-member Gabon added some risk premium to oil prices, however, as Keshav Lohiya, founder of consultant Oilytics, wrote in a note this morning, “oil markets are very quiet,” adding that crude has been supported by bullish inventory data.
Additional support for oil prices are headlines that Russia is discussing with its OPEC (more…)