WTI price inches lower on market caution ahead of Fed decision. The higher US Dollar dampens Crude oil demand. API Weekly Crude Oil Stock declined by 1.519 million barrels, contrasting with the previous decrease of 5.521 million barrels. West Texas Intermediate oil price edges lower to near $82.40 per barrel during the Asian trading hours on Wednesday, as Crude oil prices corrected from recent highs, with investors booking profits.
077 million barrels and the previous decrease of 5.521 million barrels. Energy pipeline company Enbridge is considering expanding the capacity of its Gray Oak oil pipeline by 80,000 barrels per day in 2024, with the possibility of adding another 40,000 bpd in 2025, according to Reuters. Originally, the company had planned to increase capacity by 200,000 bpd for the Texas pipeline, but in February, it revised its target to between 100,000 bpd and 200,000 bpd.
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