Oil slips for third day

By X-blogger - on May 23, 2024

U.S. crude oil inventories rose unexpectedly last week due to a big adjustment for unaccounted barrels, while gasoline stockpiles fell as demand grew ahead of the summer driving season, the Energy Information Administration said.

Oil prices fell around 1.3% , retreating for a third straight day on expectations that U.S. interest rate cuts might be deferred due to sustained inflation, which could weaken oil demand.

The Oil-Dollar pair plummeted 1.3% in the last session. The ROC is giving a negative signal.
Support: 77.1767 | Resistance: 80.4567

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