2023-06-28 16:12:27
WTI crude futures rose more than 2% to $69 following US crude inventories fell last week. which indicates increased demand in the market.
At 10:56 p.m. Thai time, West Texas Crude Oil Contract (WTI) for delivery in August. which traded on the NYMEX plus $ 1.61, or 2.36%, to $ 69.31 / barrel.
The U.S. Energy Information Administration (EIA) said U.S. crude inventories fell 9.6 million barrels last week. While analysts expected a drop of only 1.8 million barrels.
Oil prices fell at first. Amid concerns regarding the central bank’s next interest rate hike, which will affect oil demand.
European Central Bank (ECB) President Christine Lagarde said at a forum in Portugal yesterday that Inflation in Europe is still too high. And is likely to stay at this high for a long time, which may force the ECB to move forward with raising interest rates to curb inflation.
Federal Reserve Chairman Jerome Powell also signaled that the Fed will continue to raise interest rates to curb inflation.
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