The West Texas Crude (WTI) New York market closed positive tonight (May 4), boosted by US and European news, easing stricter measures to control the spread of COVID-19. This gives investors hope that โปรโมชั่น slotxo demand for oil will recover. Investors, meanwhile, keep an eye on the weekly crude oil stock report, scheduled to release today by the US Government Energy Information Administration (EIA).
WTI crude oil contract for delivery in June It rose $ 1.20, or 1.9%, to $ 65.69 a barrel.
Brent crude oil contract (BRENT) for delivery in July. It rose $ 1.32, or 2 percent, to $ 68.88 a barrel. Which is the highest closing level since March 2021
Crude oil contracts rebounded after the European Commission (EC) plans to relax restrictions on the control of COVID-19. To promote tourism At the same time, the European Commission recommends that it be open to foreign tourists from various countries. More and more people enter the euro zone. Which is expected to bolster the tourism industry this summer
As for the US side, it is reported that Several states in the US have begun announcing plans to lift the lockdown. And some states have eased lockdown measures While it is reported that the number of new infections in the United States has dropped to below 50,000 per day for the first time since October.
The robust US economic data also helped investors expect a rebound in oil demand, said financial information services firm IHS Markit. US Manufacturing Purchasing Managers Index (PMI) It rose to 60.5 in April from 59.1 in March.
The PMI index rebounded in April, reaching a record high since the data was collected in May. The index was still above 50, indicating an expansion in the US manufacturing sector.
Investors keep an eye on the crude stock report, which the US Energy Information Administration (EIA) will release today at 9:30 PM, while analysts in the S&P Global Platts poll have predicted. Crude inventories will drop 3.9 million barrels in the week to 30, while gasoline stocks are expected to drop 500,000 and refined oil inventories to drop 1.3 million.