#tradeoil

[warnerrayan754]

Crude Oil prices slip as recession fears offset US inventory draw | Century Financial

Oil benchmarks, Brent and WTI Crude extended losses on Wednesday after a report showed that US inventories fell last week, raising #RecessionFears in the world's biggest economy. Visit us to know more on Commodity Trading.

[belleofxofficial]

Russia to cuts oil output by 500,000 barrels per day

The cut is equivalent to about 5% of Russian oil output. Lower Russian production together with China’s reopening should tighten the oil market further over the coming quarters.

Futures prices for Brent crude, the global benchmark, rose 1.7% Friday to $86 a barrel as traders anticipated a tightening in global supply. US oil also gained 1.7% to trade at $79 a barrel.

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[smartfxbroker]

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