US EIA Crude Oil Stocks Change (Apr/24) -6.233M vs exp. 0.3M (prev. 1.925M)
The US EIA reported a sharp drop in crude oil stocks, at -6.233M against expectations of a modest increase.
Iranian Steel Top Official says the transfer of Mubarake steel to the south of the country is unprofessional, IRNA reports
BoC Governor Macklem says if energy prices stay higher for longer, there could well be a need to raise the policy rate - Post-meeting press conference
US EIA Crude Oil Stocks Change (Apr/24) -6.233M vs exp. 0.3M (prev. 1.925M)
Top Iranian official tells Press TV Iran succeeds in rendering all options on US table ineffective, Press TV reports
French PM says TotalEnergies (TTE FP) has to redistribute exceptional profits
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This significant draw could signal tightening supply, reinforcing bullish sentiment in oil markets and possibly impacting inflation expectations and Fed policy outlook. Traders will want to watch for potential reactions in energy prices and related currencies.
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