WTI turns red near $81.50 on hawkish Fed comments
– WTI is trading around .50 on Wednesday
– US Dollar recovery and surprise jump in U.S. crude and gasoline stocks are affecting WTI prices
– Fed Governor Christopher Waller’s hawkish comments are impacting the Greenback
– US crude oil inventories rose by 3.165 million barrels
– Geopolitical tensions in the Middle East and Russia-Ukraine war could tighten worldwide supply
– OPEC+ decided to extend output cuts until the end of June
– Oil traders will watch US GDP and PCE Price Index data for market direction