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Topic: WTI oil shuts down 17 cents, worrying about rising gasoline stocks and covid demand

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WTI oil shuts down 17 cents, worrying about rising gasoline stocks and covid demand
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West Texas crude (WTI) New York crude futures closed overnight (8 Apr) after the United States released more than expected gasoline  slotxo โหลด stocks last week. The heavy COVID-19 outbreak This will result in a slowdown in the economy and the demand for oil.

WTI crude oil contract for delivery in May It was down 17 cents, or 0.3 percent, to 59.60 dollars a barrel.

Brent crude oil contract (BRENT) for delivery in June. It was up 4 cents, or 0.1 percent, to $ 63.20 a barrel.

WTI crude oil contracts closed down. The US government's Energy Information Administration (EIA) revealed that gasoline inventories rose 4 million barrels in the week ended Apr. 2, more than analysts had expected to rise by just 200,000.

 

 

The refined oil stock. That includes heating oil and diesel, up 1.5 million barrels last week. More than analysts had expected, a 500,000-barrel increase.

 

At the same time, investors were also concerned about a return to Iranian oil production. Iran and world powers held a constructive meeting on Tuesday. They agreed to set up a working group to discuss the revival of the 2015 nuclear deal, which would pave the way for the United States to ease sanctions on Iran. And allowing Iran to resume oil exports in the market

 

The market was also pressured by concerns that The heavy epidemic of COVID-19 This will result in a slowdown in economic activity and oil demand.

 

Worldometer, the latest data reporting website gathered from public health agencies around the world, indicates that the number of people infected with the virus is COVID-19. Globally, it is 134,068,758 and the death toll is 2,906,565.

 

The report stated that The US remains the country with the highest number of infections and deaths in the world. Currently, the number of cases in the United States is 31,650,982 and the death toll is 573,030.



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