Oil

Canadian dollar slides alongside oil

• Oil started stronger today but sank

ICYMI: Oil - Wall Street Journal says "Tensions are rising between Saudi Arabia & Russia"

Baker Hughes total rig count down -9 in the current week

• The move lower in rigs continues move lower

Lloyd's Register drops ships of top Indian carrier of Russian oil

UBS on Novak's oil blooper Thursday

Novak tries to walk back earlier OPEC comments

• Now he says OPEC+ can make decisions at the June meeting if necessary

WTI crude oil futures tumbles $2.51 to settle at $71.83

• Price fell -3.38% on the day

Goldman Sachs says its bullish forecast on commodities was wrong. Still expects higher!

Oil gains after largest US inventory drawdown since 2020

• WTI crude oil up 43-cents on the day but lower than pre-inventory levels

EIA crude oil stocks draw of -12.456M vs 0.775M build

• Weekly will inventory data from the EIA

WTI Crude Oil Technical Analysis

• WTI Crude Oil is threatening a breakout.

ICYMI - Threat from Saudi oil minister: told oil speculators to "watch out", pain ahead

Private oil survey data shows big draw vs. small build expected

WTI crude futures settle $0.86 higher at $72.91

• Up $0.86 or +1.19%

WTI crude oil futures settles at $71.99

• Of $0.41 or 0.54%