WTI turns to losses ahead of API's report - Breaking The News

WTI turns to losses ahead of API's report

7 June

1 min read

EPA-EFE/LARRY W. SMITH

The price of West Texas Intermediate (WTI) futures turned to losses on Tuesday after trading in the green territory earlier in the day, while Brent also decreased its gains.

The move came after United States Treasury Secretary Janet Yellen remarked Washington is interested in keeping the flow of Russian oil to the rest of the world to avoid a global crisis and ahead of the American Petroleum Institute's latest report on the country's weekly stocks of crude oil.

WTI for settlements in July went down by 0.25% at 2:09 pm ET to sell for $118.20 per barrel. A minute later, Brent for deliveries in August grew by 0.10% to go for $119.65 per barrel.

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