© Reuters.
Investing.com – Rising for the third straight session as sources inside the Biden administration say the United States will refill the Strategic Petroleum Reserve, necessitating buying 200 million barrels or more. The source remains anonymous, according to CNBC.
The petroleum reserves are declining to their lowest levels since 1982, after liberating huge quantities of stocks to meet the needs of the market, and stopping the rise in prices, which caused a strong rise in inflation.
Today, the American Petroleum Administration’s data was worse than expected, as oil inventories rose for the past week by 3.61 million barrels, while it was expected to decrease by 1.6 million barrels.
The market is waiting for the crucial inflation data tomorrow.
The price of 77.22 per barrel, and West Texas Intermediate crude oil, is $73.48 per barrel.
2023-05-09 19:50:00
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