WTI Crude Oil Futures near $80 today. Amid concerns about a recession in China and the United States. This will be a factor affecting the demand for oil.
At 7:52 pm Thai time, West Texas Crude Oil Contract (WTI) for delivery in May. which traded on the NYMEX, minus $ 0.29, or 0.36%, to $ 80.42 / barrel.
In addition, investors took profits from the previous increase in WTI oil prices. after members of the Petroleum Exporting Countries (OPEC) and the Allied nations or OPEC Plus Announce voluntary cuts in oil output of more than 1 million barrels per day until the end of 2023.
Markets are keeping an eye on the US Energy Information Administration’s (EIA) crude inventory release after the American Petroleum Institute (API) said oil inventories fell by 4.3 million barrels last week.
Additionally, investors will keep an eye on Friday’s nonfarm payrolls numbers. which indicates the direction of the Federal Reserve (Fed) interest rate.
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