Oil prices held steady in early trade on Wednesday after two straight days of losses, as worries about tighter supply due to uncertainty over Gaza ceasefire ...
- Oil prices held steady in early trade on Wednesday after two straight days of losses, as worries about tighter supply due to uncertainty over Gaza ceasefire talks were offset by a bigger-than-expected build in U.S. crude inventories.
Meanwhile, U.S. crude stocks climbed last week by 3.03 million barrels, according to market sources citing American Petroleum Institute figures. Analysts had estimated that stocks would rise by about 2.4 million barrels. Separately, the government raised its forecast for U.S. crude oil output, expecting an increase of 280,000 bpd to 13.21 million bpd in 2024, up 20,000 bpd from an earlier forecast from the U.S. Energy Information Administration .
The commander of the Revolutionary Guard's navy in Iran said it could close the Strait of Hormuz if deemed necessary. About a fifth of the volume of the world's total oil consumption passes through the strait daily. Jon Stewart says the Arab states won't give Palestinians citizenship because they're really terrified of the 'Islamists' they backed
Hamas Oil Prices American Petroleum Institute Crude Inventories
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