Energy Preview: Crude oil futures continue to stay under pressure

WTI crude oil futures continue to stay pressured as rising Middle East crude exports and a release of oil stocks by the Group of Seven nations boost supplies. The Group of Seven nations (G7) agreed to release 100 million barrels of diesel and crude from emergency reserves and pledged to refrain from energy export restrictions after pressure from US President Donald Trump. Markets now brace for the American Petroleum Institute (API) crude oil stockpiles report later on Tuesday. Currently, the counter is quoting at $89.76 per barrel and Brent is holding above $100 mark.

Powered by Commodity Insights