Oil prices fluctuated slightly on Wednesday, with US crude and Brent futures concluding with mixed signs, positive for the former and negative for the latter.
In particular, the West Texas Intermediate crude for May delivery closed the day at 19 cents, or 0.2% higher, closing at $ 102.75 a barrel, while the June delivery was up 14 cents, or 0.1 percent. % and finished at $ 102.19 a barrel.
US crude prices were boosted by the announcement by the Energy Information Administration that US strategic reserves fell by 8 million barrels in the week ended April 15, marking their biggest weekly drop since April 30 last year.
Brent crude for June delivery fell 45 cents, or 0.4 percent, to close at $ 106.80 a barrel on the New York Mercantile Exchange.
Concerns about declining demand were fueled by the International Monetary Fund’s assessment yesterday that the war in Ukraine would lead to a significant slowdown in the global economy this year.
Source: Capital
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