West Texas Intermediate (WTI) oil price depreciates nearly 4% after registering over 3% gains in the previous day, trading around $88.90 per barrel during the European hours on Wednesday. Crude oil prices decline as traders weigh potential progress toward a US-Iran peace agreement.
Here is what you need to know on Wednesday, May 27:
Rabobank’s Molly Schwartz notes that United States (US) Treasury yields were mostly flat with a slight bull-steepening bias, while the US Dollar Index (DXY) was little changed. She highlights that the US OIS curve still prices a high probability of further rate hikes.