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Crude oil futures rebound Investors assess the situation in Ukraine and the decline in oil inventories

 Last Update: 2023-03-10
 Source: Internet
 Author: User

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Crude futures rebounded from its biggest one-day decline of the year, and investors are still trying to assess whether the Ukraine crisis has eased
after Russia said it had pulled some troops from the border.

West Texas Intermediate (WTI) rose above $
93 a barrel.
U.
S.
officials have previously said that claims that Russia is withdrawing have not been confirmed and that Russia could still launch an attack
.
And Moscow has repeatedly denied planning an "invasion"
.

The American Petroleum Institute said Cushing crude inventories fell by 2.
4 million barrels
last week, according to people familiar with the matter.
This is the latest sign
of declining inventories in key regions.
Inventories at a major oil products storage center in the Middle East also fell
sharply last week.

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