U.S. crude inventories fall and investors' risk appetite rises WTI crude oil pumped

Crude oil closed higher yesterday after erasing previous falls, but remained in a tight range as traders weighed falling U.S. crude inventories and the outlook for inflation in the world’s largest economy. U.S. crude inventories fell by 2.5 million barrels last week, the first consecutive decline since March, pushing national inventories to their lowest level in nearly a month. Overall, risk appetite is rise boosting markets as US inflation cools for the first time in six months, providing a short for the Fed to ease monetary policy. “Recent U.S. macro data has raised expectations that the Fed may soon start cutting interest rates, which will provide some supporting for oil prices,” said Warren Patterson, head of commodity strategy at ING. He said that the market is still in a range Fluctuation, and either the OPEC+ policy is clear, or there is a new catalyst to achieve a breakthrough