WTIUSD

Crude oil prices are influenced by the balance of supply and demand as well as the Federal Reserve's monetary policies. The decline in crude oil stocks reported by the American Petroleum Institute (API) supports prices upwards by indicating a decrease in supply. The Fed's lowering of interest rates could positively affect oil prices by weakening the USD. However, concerns about global economic growth and the production policies of OPEC+ countries are among the significant factors that will determine the trend of oil prices.