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Oil Prices Fall as Speculators Retreat: Summer Driving Season Demand in Focus

Oil prices fell yesterday, ahead of data that will shed light on the extent of Americans’ appetite for fuel during the summer driving season, with the price structure of benchmark Brent crude indicating the decline of speculators in prices. Brent crude futures fell 41 cents, or 0.6%, to $73.77 a barrel, and US West Texas Intermediate crude futures fell 42 cents, or 0.6%, to $68.95 a barrel. A Reuters poll indicated that US inventories may have declined in the week ending June 23.

2023-06-27 22:01:41
#inventories #fall #oil #prices

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