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🖥️OIL FUTURES FLUCTUATE AMID INVENTORY CHANGES.

🖥️OIL FUTURES FLUCTUATE AMID INVENTORY CHANGES.

Day: 10 | Time: 17:01:23 WTI crude oil futures remained around $81.5 per barrel on Wednesday after the EIA reported a larger-than-expected decrease in US crude oil inventories. US crude oil inventories fell by 3.444 million barrels, surpassing the expected decrease of 3.0 million barrels. Gasoline inventories also decreased more than expected. Meanwhile, OPEC maintained its forecast for strong global oil demand growth in 2024, particularly during the summer. The EIA predicts that global oil demand will reach 104.7 million barrels per day by 2025, slightly exceeding the projected supply of 104.6 million barrels per day, indicating a future deficit. Meanwhile, China's annual inflation rate unexpectedly dropped to 0.2% in June from 0.3%.