WTI trades in negative territory for the fourth consecutive day near $80.80 on Wednesday. The unexpected Crude oil stockpiles build in the US weigh on WTI prices. The rising Middle East tensions might raise the fear of oil supply disruption, lifting WTI . Western Texas Intermediate , the UScrude oilbenchmark, is trading around $80.80 on Wednesday. The blackgoldedges lower on rising crude inventories in the United States and easing geopolitical tensions in the Middle East.
Thismight lead to a stronger US Dollar and exert some selling pressure on the USD-denominatedoil. Furthermore, the hope that a ceasefire agreement between Israel and Hamas might be inreach,reduces the fear of awiderconflict in the Middle East. However, Israeli Prime Minister Benjamin Netanyahu downplayed expectations that a proposed hostage deal would prevent an attack on the southern Gaza city of Rafah, per CNBC.
Source: Digital Coin News (digitalcoinnews.net)
WTI Commodities
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