2023-06-30 15:17:28
WTI crude futures rose more than 1% to $70 following the US released the Personal Consumption Expenditure (PCE) price index, indicating that inflation had peaked. And will be a factor to slow down interest rate hikes by the Federal Reserve (Fed).
At 9:55 p.m. Thai time, West Texas Crude Oil Contract (WTI) for delivery in August. Which traded on NYMEX plus $ 0.88, or 1.26%, to $ 70.74 / barrel.
In addition, oil prices were also supported by the weakening of the dollar. This will increase the attractiveness of the contract. By making oil contracts cheaper for holders of other currencies.
However, WTI oil prices tumbled 6.5% in the second quarter, marking the second consecutive quarter of declines amid recession concerns. which will affect the demand for oil in the market
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