A drop of more than three billion barrels surprised analysts, who expected an increase of 900 thousand barrels.
The price of oil rose this Wednesday, after industry data revealed an unexpected decrease in stocks of US oil last week. According to “Reuters”, this drop is a positive sign for demand, despite markets also being attentive to hostilities in the Middle East.
You stocks US oil prices fell by 3.237 million barrels last week, according to market sources. This drop surprised analysts, who expected an increase of 900 thousand barrels.
Despite this information, the traders will be paying attention to official United States data on stocks, which are scheduled to be released at 2:30 pm this Wednesday, to confirm this decline.
In April, the country’s business activity slowed to a four-month low, with S&P Global stating that the PMI production index fell to 50.9 this month, after standing at 52.1 in March.
ANZ analysts, consulted by the US agency, consider that the slowdown could “help convince policymakers that rate cuts are necessary to support the economy”.
Cutting interest rates, which have been unchanged since July, to between 5.25% and 5.50%, could reinforce economic growth and, in turn, demand for oil from the world’s largest fuel consumer. .
