Crude oil prices were lower Wednesday morning, having whipsawed bak and forth since hitting a 6-year low before Christmas.
WTI light sweet crude fell 1 dollar to $36.90 a barrel, unable to sustain yesterday's rally.
The American Petroleum Institute, an industry group, reported Tuesday that U.S. crude-oil inventories rose by 2.9 million barrels in the latest week.
Most analysts expected a second consecutive drawdown in stockpiles.
The Energy Information Administration will release its weekly petroleum status report for the week ended 25th at 10:30 am ET.
The National Association of Realtors is due to release its pending home sales index for November at 10 am ET. Economists expect the index to increase 0.5 percent month-over-month.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.