Crude Oil Slips 2% on Weak Demand, Rising US Stockpiles
6 Articles
6 Articles
While Iran reiterated that there is no progress in plans to unlock the Strait of Ormuz, the price of North Sea Brent crude, for delivery in October, fell 2.15 percent, to $87.07 per barrel. Its American equivalent, the West Texas Intermediate (WTI), for delivery in September, dropped 2.43%, to $81.25 per barrel. The Mexican mixture closed at $77.12 per barrel.
Oil prices fell this Thursday, driven by the expectation that world crude flows, including from the Middle East, will be sufficient to meet a demand that is estimated to fall. The price of North Sea Brent crude, for delivery in October, fell by 2.15%, to $87.07 per barrel. Its US equivalent, the West Texas Intermediate (WTI), for delivery in September, dropped by 2.43%, to $81.25 per barrel. Analysts remain divided over the amount of oil that ma…
Crude Oil Slips 2% on Weak Demand, Rising US Stockpiles
By Adedapo Adesanya Crude oil declined by more than 2 per cent on Thursday as investors focused on signs of weaker global demand and a sharp build in inventories in the United States. Brent futures finished $1.91 or 2.15 per cent lower to $87.07 a barrel, while the US West Texas Intermediate (WTI) crude lost […]
Crude oil futures prices on the New York Mercantile Exchange fell for the first time in six trading days on the 13th, with the benchmark West Texas Intermediate (WTI) September delivery closing down $2.02 from the previous day at $81.25 per barrel.
West Texas Intermediate (WTI) crude oil closed down 2.4% on Thursday, at $81.25 a barrel, after the International Energy Agency (IEA) lowered its forecast for crude oil demand for the remainder of the year due to the closure of the Strait of Hormuz. At the close of trading, WTI futures contracts for September, the benchmark in the United States, fell $2.02 compared to the previous close. The IEA revised its forecast for global oil supply for the…
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