Investorideas.com

Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS




Share on StockTwits

Crude Prices Drop Ahead of US Inventory Report

Today's markets analysis on behalf of George Khoury Global Head of Education and Research at CFI

 

July 10, 2024 (Investorideas.com Newswire) Both Brent Crude Futures and WTI Crude Futures were under pressure today and have been on a decline since early this month. Brent crude futures declined below the key level of $85 per barrel, while WTI crude futures now trade near $81 per barrel. The diminished impact of Hurricane Beryl removed some support for the market and weighed on prices as concerns around production disruption eased. Additionally, inflation data from China, the world's top crude importer, is also weighing on commodity prices. China's weaker-than-expected consumer price inflation in June suggests subdued consumer demand and ongoing producer price deflation. These economic conditions, alongside potentially reduced tensions in the Middle East contributed to the recent decline in oil prices. Traders are now anticipating today's release of the US Energy Information Administration (EIA) data. It is expected to show further declines in crude oil and gasoline inventories for the week ending July 5. If confirmed, this could potentially stabilize crude prices in the near term.

More Info:


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp






Get more Oil and Gas - news, articles, and stock directories

Buy a energy guest post on Investorideas.com