Energy markets fell on Tuesday July 30, with some market sources reporting overall negative sentiment over world events. Renewable information number (RIN) prices decreased day on day as well.
Sources pointed to the possibility for a third month of lower economic growth in China, and an OPEC meeting later this week where members could vote to roll back production cuts.
On the bullish side, the US Federal Reserve is also meeting this week and could signal plans for interest rates for the rest of the year. Additionally, election results in Venezuela have led to speculation for more US sanctions in the future, and therefore lower crude oil supply.
Amid these concerns West Texas Intermediate (WTI) futures weakened by nearly $1 per barrel day on day to $74.74 per barrel. WTI has slipped by $3.55 per barrel since July…
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