WTI Rebounds Off Two-Month Lows After API Reports Crude Draw
Zero Hedge - 2024-05-14T20:40:00.000Z

WTI Rebounds Off Two-Month Lows After API Reports Crude Draw Oil prices decline today as the last few day's rollercoaster continued after a hotter than expected PPI print, leaving WTI near nine-week lows. Crude has been on a downward path since April, with the geopolitical risk premium from tensions in the Middle East largely evaporating. Refinery run cuts and narrowing timespreads have signaled a slightly softer market. Yet prices remain elevated for the year as OPEC and its...

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