International Trade Wales crude futures rose over $74 as investors watched tonight’s Personal Consumption Expenditure (PCE) price index and the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies. or OPEC Plus next week
At 7:21 pm Thai time, West Texas Crude Oil Contract (WTI) for delivery in May. Which trades on NYMEX plus $0.49, or 0.66%, to $74.85/barrel.
WTI oil prices rose 8% this week, but fell 3% in March after plunging to their lowest level since 2021 earlier in the month. Amid concerns about the US banking crisis
Investors keep an eye on the PCE Index, an inflation gauge focused on by the Federal Reserve (Fed), which can detect changes in consumer behavior. and covers a wider range of prices for goods and services than Consumer Price Index (CPI) data.
In addition, the market is keeping an eye on the OPEC Plus board meeting on April 3, while the source said. OPEC Plus is likely to maintain its oil production policy by cutting production by 2 million barrels per day until the end of 2023.
