Crude prices are recording strong declines in the middle of the trading session of the European session today, Wednesday, June 22nd, as crude is affected today by the high expectations that US President Joe Biden will support crude prices in the coming period, as BENRT crude loses about 4.15%, trading at levels of 109.90, while US crude is losing (NYMEX) about 4.70%, while trading at levels of $104.35 per barrel.
US President Joe Biden seeks to support crude prices by temporarily suspending the tax of 18.4 cents per gallon per barrel as fuel prices rise in the world’s largest consumer of crude as Biden tries to reduce high fuel costs by putting pressure on major energy companies before the peak summer in a meeting Today, it is expected to be held with the seven largest oil companies in the United States of America.
Meanwhile, a Ukrainian unmanned aircraft bombed an oil refinery in the Rostov region of Russia and caught fire this morning, Wednesday.
The markets are awaiting preliminary figures from the American Petroleum Institute today, Wednesday, for US crude inventories, before the official figures to be issued by the US Energy Information Administration tomorrow, Thursday.
02/11/2024
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