WTI Crude Oil Regains Some of its Value
Arslan Butt • 1 min read
A weak dollar helped oil prices climb higher for now. Although, on Wednesday, the EIA report released showed a surprising build in crude inventories in the US. During the previous week, US crude inventories rose by 2.39 million barrels while expectations were for a decline by 2.8 million barrels.
However, crude oil prices remain supported over reports that OPEC members are looking at ways to stop oil prices from sliding even lower. Given that trade war sentiments continue to rule the markets, any action by Saudi Arabia and other OPEC members could prevent a free fall in oil prices.