By Srinivas Chowdary Sunkara // petrobazaar // 10th April, 2023.
Brent oil futures prices for June delivery slipped 10 cents to $85.02 a barrel while WTI May futures prices are down 5 cents to $80.62 a barrel on Monday. Both the benchmarks logged in weekly gains last week. The benchmarks futures prices jumped on last Monday after OPEC+ group surprised markets with further tightening spigots. Demand woes, Gloomy economic outlook , Weak U.S Job data , Slump in U.S and China manufacturing activity contained upside momentum last week. Larger than expected U.S stock draws and drop in rig numbers supported bullish sentiment. Bulls fest seen following the supply cuts news. Weekly reports followed by monthly reports are likely to spur volatility during this week.
Good day to all.
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