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Market Impact: 0.25

Crude Oil Prices Erase Early Gains on a Bearish EIA Inventory Report

Energy Markets & PricesCommodities & Raw MaterialsEconomic Data

WTI crude for August (CLQ26) is down 0.54 (-0.68%) while August RBOB gasoline (RBQ26) is up 0.0206 (+0.64%), leaving energy prices mixed. Crude fell after giving up an early advance on a bearish weekly EIA inventory report, suggesting a near-term supply/demand signal that pressured oil prices.

Analysis

WTI crude for August (CLQ26) is down 0.54 (-0.68%) while August RBOB gasoline (RBQ26) is up 0.0206 (+0.64%), leaving energy prices mixed. Crude fell after giving up an early advance on a bearish weekly EIA inventory report, suggesting a near-term supply/demand signal that pressured oil prices.

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Market Sentiment

Overall Sentiment

mildly negative

Sentiment Score

-0.25