Oil Prices Rise on Hopeful Demand Outlook and Decline in US Inventories
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#80409bb8 ver:1.18

Oil prices rise on hopeful demand outlook and decline in US inventories. Brent crude futures up 0.7% to $85.74/barrel, WTI crude futures up 0.8% to $81.69/barrel. Weaker dollar and increased summer travel demand support prices. OPEC maintains forecast for strong global oil demand growth. US refining activity drives larger-than-expected decline in inventories. Brent futures up 0.5% to $85.08/barrel, WTI up 0.85% to $82.10/barrel. EIA reports 3.4 million barrel decline in US crude inventories. Senate testimony from Fed Chair Powell boosts rate cut expectations. Inflation data from China pressures prices. Brent futures rise 33 cents to $85.73/barrel, WTI futures climb 46 cents to $83.08/barrel. US consumer prices fall, stoking hopes for rate cuts. US gasoline and jet fuel demand at highest levels in years. More data needed for clearer signs of Fed action. #OilPrices #DemandOutlook #USInventories #RateCuts...

#newstr #OilPrices #UsInflation #FederalReserve #FuelConsumption 

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