WTI Crude Oil Prices Fall as EIA Stockpiles Shrink - Forex News by FX Leaders
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WTI Crude Oil Prices Fall as EIA Stockpiles Shrink

Posted Thursday, April 18, 2019 by
Arslan Butt • 1 min read

WTI Crude Oil prices have fallen after the EIA announced a shrinking in stockpiles for the first time in four weeks. Furthermore, the decline has come in well below the API estimates released earlier.

Since the beginning of this year, crude oil had registered a 40% rise over OPEC and allies cutting oil production, tightening supply from Venezuela and US imposing further sanctions on Iran. EIA stockpiles for WTI crude oil fell by 1.4 million barrels during the previous week.

At the time of writing, WTI is trading below $64 at around $63.74.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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