Side benefit of falling oil prices
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Russia's oil and gas revenue is seen falling by a third in May from a year earlier to 0.52 trillion roubles ($6.48 billion), the lowest level since July 2023 amid weaker oil prices and a stronger rouble,
Crude oil prices face bearish pressure near $60. Click for how to use ProShares Ultra Bloomberg Crude Oil ETF (UCO) to benefit from price movements.
U.S. oil prices fell toward the Wednesday's lowest levels after the Energy Information Administration reported an increase of 4 million barrels in U.S. commercial crude-oil inventories for the week ending May 9.
U.S. oil prices fell to $57 a barrel after the OPEC Plus cartel said this weekend that it would pump more oil.
Oil prices held near two-week highs in early trading on Wednesday, supported by an agreement between the U.S. and China to temporarily lower their reciprocal tariffs and a falling U.S. dollar.
The lowest inflation rate in four-years was made possible by a trend that will surely bring smiles to the faces of Americans: Falling prices.