WTI recovers to near $68.00, stronger US Dollar might cap its gains

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WTI recovers to near $68.00, stronger US Dollar might cap its gains
WTICommoditiesMacroeconomics
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West Texas Intermediate (WTI), the US crude oil benchmark, is trading to around $67.90 on Thursday.

WTI price rebounds slightly to near $67.90 in Thursday’s early Asian session. US crude stocks fell by 777,000 barrels last week, citing the API on Wednesday. The firmer USD and

Clowered its global oil demand growth forecasts for 2024 and 2025, citing weak demand in China, India, and other regions,marking the producer group's fourth consecutive downward revision. Looking ahead, Oil traders will keep an eye on the US Energy Information Administration Crude Oil stockpiles report, which is due later on Thursday. Also, the US Producer Price Index, Initial Jobless Claims, and Fedspeak will be closely monitored later in the day.

C influence the price of WTI Oil? C decides to lower quotas, it can tighten supply, pushing up Oil prices. When

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