U.S. crude oil falls below $80, hits seven-week low as stockpiles surge on lackluster demand
Publishing timestamp: 2024-05-01 13:22:13
Summary
U.S. crude oil prices have fallen due to surge in stockpiles and lackluster demand. Traders are monitoring the Federal Reserve's meeting for interest rate clues. In the Middle East, efforts are being made for a cease-fire in Gaza. Potential Iran-Israel war could spike oil prices. Wall Street firms have different outlooks on the energy sector.
Sentiment: MIXED
Tickers: @CL.1, @LCO.1, @RB.1, @NG.1,
Keywords: markets, ice brent crude (apr'23), investment strategy, breaking news: markets, rbob gas (mar'23), natural gas (mar'23), oil and gas, wti crude (mar'23), business news,
Source: https://www.cnbc.com/2024/05/01/crude-oil-prices-today.html