💨 Abstract

Oil prices dropped on Thursday due to rising U.S. crude inventories and a strengthening dollar, which raised demand concerns. Brent and WTI crude futures fell by over 2% and 3% respectively for the week. The U.S. Energy Information Administration reported a larger-than-expected increase in U.S. crude inventories last week, while gasoline stocks unexpectedly fell to a two-year low.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖