Energy Preview: Crude Oil Rebounds In Asian Trades

4 Aug 2022 , 08:52 AM

Crude oil prices are only marginally higher following a big slump in the previous session as demand concerns surge amid recession fears and tightening policy by central bankers. Notable increase in crude oil and gasoline inventories are signaling further weakening US fuel demand. Oil prices fell yesterday after the Energy Information Administration reported a build in crude oil inventories of 4.5 million barrels for the week to July 29. WTI crude oil futures are currently quoting up 0.28% at $90.94 per barrel after sliding to multi-month lows in the previous session.Powered by Commodity Insights