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Breaking Posted 5 hours ago

US API crude oil stocks fall 0.765M; gasoline, distillate rise

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US API crude oil inventories dropped 765K barrels, while gasoline stocks rose 1.238M and distillate stocks increased 1.447M. Crude drawdowns support oil prices and may strengthen commodity-linked currencies like CAD and NOK, while larger-than-expected product builds could pressure energy demand expectations. USD pairs sensitive to energy and risk sentiment may see modest moves.
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49 minutes ago

Persian Gulf oil flows recover, pressuring crude prices lower

Oil prices are declining as petroleum flows through the Strait of Hormuz recover from recent disruptions. The market is pricing in a rapid normalization of traffic, reducing supply-side concerns. This eases inflation pressures on commodity-linked currencies, particularly affecting USD/CAD and other energy-correlated pairs, as lower oil costs reduce upside risks to central-bank tightening cycles.

https://think.ing.com/articles/the-commodities-feed-hormuz-recovery-continues-to-weigh-on-oil240626/
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