Oil ends more than 1% higher on US rate cut, declining crude stockpiles
Oil prices extended their recent recovery rally and rose more than 1% on Thursday as a large cut in U.S. interest rates and declining global stockpiles helped offset some of the demand concerns arising from weak consumption in China.
Crude oil prices today: WTI is trading at $70.98
The Brent/WTI spread has historically ranged between $4/bbl and $8/bbl, but it can expand or contract based on factors related to U.S. and international supply and demand conditions. For example, the Brent/WTI spread hit nearly $14/bbl in April 2011 when protests sparked market fears of significant oil supply disruptions in the Middle East.
UBS analysts believe concerns about hurricane disruptions should not discourage investors on crude oil. Brent Crude Oil ...
Concurrently, the latest data from the US Department of Energy showing a decrease in crude oil inventories by 1.63 million ...
WTI crude fell to its 52-week low of $64.78 per barrel on Sep. 10, 2024. It reached its 52-week high of $95.52 on Sep. 27, 2023. That’s 27.27% higher than the current futures price. Brent futures ...
Brent crude oil prices dropped below $70 a barrel, the lowest since December 2021. OPEC+ downgraded 2024 oil demand growth ...
Brent crude crashed to a three-year low last week. Ahead of the US Federal Reserve policy decision, crude oil is teetering on ...
Morgan Stanley on Monday cut its Brent crude oil forecasts for coming quarters and said the global oil market is facing a ...
Gold prices surged to a record high as the Federal Reserve cut rates, while oil prices gained on falling stockpiles.
Trafigura, one of the world's largest independent oil traders, has predicted that Brent oil prices will soon fall into the ...
Brent Crude, Heating Oil, and Gasoline are at or near their lowest carry yield, are at or near their lowest hedge fund position estimates and are the most “cheap and oversold” markets across all ...
Oil prices fell on Wednesday as the market cautiously awaited a rate cut announcement from the Federal Reserve, while ...
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