WTI Extends Losses After API Reports Unexpected Crude Build Oil (and gasoline) prices were lower today (WTI sliding back near two-month lows) as the Biden administration said Tuesday it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer. However, the main driver for oil prices right now is "worry about the economy, and the potential that [interest] rates will remain elevated,"... Read this story
