Oil prices came off today despite weekend news of the OPEC+ extension that extended the historic 9.6MM/bpd cuts through July.
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Oil prices came off today despite weekend news of the OPEC+ extension that extended the historic 9.6MM/bpd cuts through July.
Oil prices rose today after an unexpected fall in the May US Jobless rate boosted financial markets across a variety of sectors
Crude Oil Imports into China jumped up 13% from April to a near record high of 11.11 million BDP.
Crude stocks were down
.07MM/bbls, compared to a forecasted build of 3.039MM/bbls.
Oil futures traded down today as protesters flooded streets across the US and the world. China contention is also causing negative pressure on pricing
Crude oil prices rose midday, erasing earlier losses on signs of rising gasoline demand and improving refinery runs.
Oil prices fell today as President Trump is looking to increase pressure on China.
“The 16 million bpd oversupply in crude during April could be reversed altogether by June, helped by a 4 million-bpd recovery in crude demand and a 12 million-bpd cut in crude supply,”
The oil rally lost some steam today as tensions between the US and China are beginning to res-escalate.
Oil jumped to highest levels since March as the rally in the oil markets
continues.