Oil Climb Continues as Market Eyes $85 Target

Tuesday, 19 March 2024, 15:43

WTI crude oil climbs for the fourth time in five days, nearing $85 amid signs of tightening US inventories and strong demand. US Energy Secretary Jennifer Granholm's announcement of potential reserve replenishment raises questions about global demand impact. The focus remains on demand, inventories, and upcoming EIA reports.

https://store.livarava.com/a354c280-e607-11ee-9685-5254a2021b2b.jpe — Oil Climb Continues as Market Eyes $85 Target

Oil Price Forecast

WTI crude climbs near $85 as signs of tightening US inventories and strong demand support gains. Energy Secretary Jennifer Granholm's reserve replenishment announcement raises demand concerns.

US Strategic Petroleum Reserve Update

The current reserve level
Granholm's 40 million barrel replenishment plan
The impact on global demand

The focus in the oil market is on demand, inventories, and upcoming EIA reports.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.