https://www.instagram.com/vanessaclarkipaiThis is your Daily Crude Oil Price Tracker with Vanessa Clark podcast.Hey friend, welcome back to the Daily Crude Oil Price Tracker. I am your host, Vanessa Clark, here to walk you through what is happening in the crude oil market right now.Let us start with the latest price. According to Trading Economics, benchmark West Texas Intermediate crude oil is trading at about 56 dollars and 16 cents per barrel, based on recent trading data. That is up slightly from the previous day, but still down more than 20 percent compared with this time last year.So what is driving today’s crude oil price movementRecent moves have been heavily influenced by news around Venezuela. Trading Economics reports that the United States is moving to take long term control over Venezuelan crude sales, starting with the release of stored oil and supervised sales of future production. At the same time, authorities have been stepping up enforcement and even seizing Venezuelan linked oil tankers. More potential supply on the market usually puts downward pressure on prices.On the demand side, softer United States labor data is increasing expectations for more interest rate cuts by the Federal Reserve. Lower rates can support economic growth, which can boost demand expectations for oil and help crude prices stabilize around that mid fifty dollar per barrel level.Here is your quick takeaway for today. If you follow crude oil prices for budgeting, investing, or business planning, keep an eye on three things right now. First, any new announcements about Venezuelan crude exports. Second, weekly United States inventory data, which shows how tight or loose supply is. And third, market expectations for Federal Reserve rate cuts, because they shape the broader demand outlook.That is it for today’s Daily Crude Oil Price Tracker with Vanessa Clark. Thanks for listening, make sure you subscribe, and tune in next time so you always know where the crude oil price is heading.For more http://www.quietplease.aiCheck out Vanessa on Instagram https://www.instagram.com/vanessaclarkipaiFor some deals, check out https://amzn.to/4hSgB4rThis content was created in partnership and with the help of Artificial Intelligence AI

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