U.S. crude oil falls more than 1%, on pace for worst month of year as gasoline demand is soft
Publishing timestamp: 2024-05-30 13:02:32
Summary
U.S. crude oil is down 4.8% in May, its worst performance since December. Oil prices have traded in tight range over past month as inventories have stabilized. However, soft economic data points to further downside risks, according to Barclays. U.S. crude oil fell more than 1% Thursday and is on pace for its worst month of year, as gasoline demand is soft with summer driving season now underway.
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Keywords: ice brent crude (apr'23), united states, oil and gas, natural gas (mar'23), investment strategy, breaking news: markets, markets, business news, wti crude (mar'23),