Key Points
NEW YORK (Reuters) -Oil prices rose about 1% on Wednesday as geopolitical tensions raged on in the Middle East and traders assessed signs of near-term supply tightness...
ET (1902 GMT), while Brent crude rose 56 cents, or 0.7%, to $82.90 a barrel...
Timespreads are showing markets tightening, UBS analyst Giovanni Staunovo said, adding that crude stocks declined in the Amsterdam-Rotterdam-Antwerp trading hub while product stocks slid in Fujairah last week...
Recent refinery outages led to some crude oil builds across the globe but these could be coming back online which will put pressure on crack spreads and could support more crude usage, said Alex Hodes, energy analyst at StoneX...
U.S. inflation data last week pushed back expectations for an imminent start to the Feds easing cycle, with economists polled by Reuters now forecasting a cut in June...
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