2023-06-29 12:33:40
WTI Crude Oil futures down today. while investors take profits After the price jumped sharply yesterday.
At 7:27 p.m. Thai time, West Texas Crude Oil Contract (WTI) for delivery in August. Which traded on the NYMEX, minus $ 0.15, or 0.22%, to $ 69.41 / barrel.
WTI oil prices soared nearly 3% yesterday following the US revealed a bigger-than-expected drop in crude stocks. which indicates the demand for oil in the market
However, the market remains pressured by concerns regarding the upcoming rate hikes by several central banks. which will affect oil demand.
European Central Bank (ECB) President Christine Lagarde says inflation is still too high in Europe. 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.
In addition, investors are concerned regarding the weak Chinese economy. following revealing annual profit figures for industrial companies which has declined in the first five months of this year
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