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Crude oil futures have remained largely constrained, buying and selling near USD 66.50 per barrel and repeatedly failing to interrupt by the USD 67 threshold.
On the demand aspect, resilience in the USA and China has offered some assist.
The current draw of practically 3.9 million barrels from U.S. crude inventories factors to vigorous refinery exercise.
Nonetheless, this has been tempered by vital builds in gasoline and diesel shares, casting doubt on the energy of gas demand as the height summer time journey season progresses.
On the identical time, OPEC+’s plans for persevering with output will increase within the coming months elevate issues over a possible oversupply, though a potential pause later this yr might assist the market. Trying forward, merchants might proceed to watch financial developments within the US and China.
Within the US, commerce coverage might additionally have an effect on sentiment, as the dearth of commerce offers might influence oil demand if financial progress slows down considerably.
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