Crude Oil Prices Eyeing $70 Amid Viral Concerns, Small Stockpiles Draw

DailyFX2021-08-04

CRUDE OIL PRICE OUTLOOK: Oil prices trade steadily on Wednesdayafter falling 4.7% earlier this week US crude inventories felllessthan expected last week,exerting downward pressure on prices ...

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Qian18
2021-08-04
Qian18
Like pls
RGsun
2021-08-04
RGsun
Nice
GregLord
2021-08-04
GregLord
Like please
- Ryun83:
  Like b
Csloke
2021-08-04
Csloke
Pls like my comment

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A rapid Covid-19 flareup in China cast a shadow over its growth outlook amid an already slowing economy. Authorities have reported 353 locally transmitted cases since July 20, with the highly contagious Delta variant found in more half of China’s 32 provinces. Over 46 mainland cities have warned against non-essential travel and conducted mass-testing for the virus to curb its spread.\nStricter mobility constraints may dampen the energy demand for the world’s largest oil-importing country. China accounts for around 26% of the world’s total crude imports, with over 40 million barrels imported monthly so far in 2021 (chart below).\nMeanwhile, the America Petroleum Institute (API) reported a smaller-than-expected draw in crude inventories for the week ending July 30th, undermining energy prices. Crude oil stocks fell 0.88 million barrels, compared to an estimated 2.90-million-barrel drop. 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An immediate resistance level can be found at $73.26 – the 127.2% Fibonacci extension.\nThe MACD indicator is trending lower, suggesting downward momentum may be dominating.\nWTI Crude Oil Price–Daily Chart","kind":"news","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":807767975,"gmtCreate":1628059640797,"gmtModify":1703500457183,"author":{"id":"4088837346367760","authorId":"4088837346367760","name":"Qian18","avatar":"https://static.tigerbbs.com/8abd9311fe6725336ec04f09b97c683a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"4088837346367760","authorIdStr":"4088837346367760"},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807767975","repostId":1151010674,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":807761158,"gmtCreate":1628059090074,"gmtModify":1703500448923,"author":{"id":"3573441806388470","authorId":"3573441806388470","name":"RGsun","avatar":"https://static.tigerbbs.com/e0f837845726564ce1e187eaa5186f5b","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3573441806388470","authorIdStr":"3573441806388470"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807761158","repostId":1151010674,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":807763448,"gmtCreate":1628059018584,"gmtModify":1703500448263,"author":{"id":"3575618581298660","authorId":"3575618581298660","name":"GregLord","avatar":"https://community-static.tradeup.com/news/7d3516a57f185abc762678bd4cc522cd","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3575618581298660","authorIdStr":"3575618581298660"},"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/807763448","repostId":1151010674,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5422484,"gmtCreate":1628059338206,"gmtModify":1663231910533,"authorId":3574571431188078,"author":{"id":3574571431188078,"idStr":"3574571431188078","authorId":3574571431188078,"name":"Ryun83","avatar":"https://static.tigerbbs.com/930dc26d4ae857c0f1cb8a552152440a","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.27%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":807763448,"type":1,"supId":0,"prevId":0,"content":"Like b","text":"Like b","html":"Like b"}],"langContent":"EN"},{"id":807763923,"gmtCreate":1628058861962,"gmtModify":1703500447274,"author":{"id":"3586671359227798","authorId":"3586671359227798","name":"Csloke","avatar":"https://static.tigerbbs.com/4f4ae1f1b04f4bbad3568e1bc3151189","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3586671359227798","authorIdStr":"3586671359227798"},"htmlText":"Pls like my comment","listText":"Pls like my comment","text":"Pls like my comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807763923","repostId":1151010674,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":31,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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