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Oil prices experienced fluctuations this week, initially gaining before stabilizing following President Joe Biden's announcement that he will not seek reelection. However, prices later dropped to a five-week low as traders assessed the impact of Biden's decision and shifted their focus to weak fundamentals and predictions of increasing crude inventories. Brent crude fell by 9 cents to $82.31 per barrel, while WTI crude decreased by 10 cents to $78.30 per barrel. Oil prices slipped for a third trading session on Tuesday.
Oil prices fall on predictions of swelling crude inventories, weak demand https://t.co/Hbb6eXt0cN https://t.co/sKTVgsaOIE
🛢️ Oil prices drop on rising inventories and sluggish demand: - Brent crude down 9 cents to $82.31/barrel - WTI crude falls 10 cents to $78.30/barrel #Oil #Prices #Inventories
#MarketsWithMC | 🛢️ Oil prices drop on rising inventories and sluggish demand: - Brent crude down 9 cents to $82.31/barrel - WTI crude falls 10 cents to $78.30/barrel Read more on this⤵️ https://t.co/JILX7LhAp3 #Oil #Prices #Inventories
