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Oil falls into the OPEC-cut gap in $2 decline ahead of inventory data

When a chart falls into a gap, that gap usually fills.WTI crude oil has fallen into the weekly gap that opened on the chart on the surprise production cut from OPEC at the start of the month. WTI is down $2 to 78.85.It's not entirely clear what is behind the decline but there are worries about global growth. Private data late yesterday from the API showed generally bullish numbers, though they were close to what was expected.Crude inventories -2675KGasoline -1000K Distillates -1900KThat should h... Read More

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Falls

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Opec

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Ahead

Inventory

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Opec cut

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Posted: Apr 19 2023, 14:10

Author Name: forexlive

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