Gold Tanks, Oil Turns Negative, Bitcoin Lower – Investing.com
- Date: 17-Jun-2021
- Source: Investing.com
- Sector:Oil & Gas
- Country:Middle East
Gold Tanks, Oil Turns Negative, Bitcoin Lower – Investing.com
Crude prices gave up earlier gains after a surprisingly hawkish FOMC dot plot sent both and the higher. rose after a mostly bullish EIA crude oil inventory report. Americans are travelling as jet fuel demand improved to the highest level since the end of May and as gasoline demand rose by 900,000 bpd.
Saudi Energy minister noted that the oil market is not out of the woods yet and that the OPEC+ cautious approach is paying off.
The short-term rebound in the dollar will likely be a speed bump in WTI crude's path higher.
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