crude today 13-04-2023

Check out for Prices!

By Srinivas Chowdary Sunkara // petrobazaar // 13th April, 2023.

Brent oil June futures prices slipped 42 cents or 0.48 % to $86.91 a barrel while WTI oil May futures prices dipped 31 cents or 0.37 pct to $82.95 a barrel on Thursday. Both the benchmarks rose 2% on Wednesday to their highest in more than a month on cooling inflation data that spurred hopes to stop Federal Reserve to hike interest rates. U.S consumer price index climbed last month that also created a positive sentiment. On the data side,  Oil markets shrugged off moderate build in U.S stocks attributing it to release from emergency stocks. The rally was halted due to U.S recession fears that may stop demand growth, Cautioned oil markets. OPEC and IEA monthly reports are awaited that will provide some clues on demand outlook. 

Good day to all

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Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com

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