Energy prices remained firm as traders hoorayed the huge decline in US oil inventory. The market was also buoyed by the news that a number of OPEC members have shown enthusiasm, ahead of the meeting on May 25, in participating in the output cut extension. Rising for a second day, the front-month WTI crude oil contract gained +1.06% while the Brent contract was up +1.1%.
Originally posted here:
Energy Prices Firm, while Stocks Fell on Disappointing Earnings. Focus Turns to US CPI and Retail Sales
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