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Indonesia News Portal for Traders | Financial & Business Updates

19 December 2024 19:41  |

Crude Oil Recovers as US Stockpiles to Fall in 2025

Crude oil prices recovered some of their early weekly declines on Thursday, with benchmark US West Texas Intermediate (WTI) crude back above $70.00.

US commercial crude inventories could fall by about 537,000 barrels per day by 2025, according to Bloomberg’s supply and demand calculator.

Although President-elect Donald Trump has pledged to drill more domestic oil, it could take months or years for new wells and sites to come online, while demand is set to increase under Trump’s reform program.

Source: FXStreet

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