US EditionOil Prices Rebound After Recent Losses; Oversupply, Demand Concerns Persist
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Oil prices rebound after recent losses; oversupply, demand concerns persist
(Investing)– Oil prices rose Thursday, rebounding after logging sharp losses in recent sessions as expectations of a supply glut and softening demand presented a weak outlook for crude. At 04:45 ET (09:45 GMT), Brent oil futures for January rose 0.7% to $63.98 a barrel and West Texas Intermediate crude futures gained 0.9% to $60.15 a barrel. Both contracts slid some 1% each on Wednesday, having fallen a third straight month in October. Trump adm…
Oil prices fell slightly on Thursday, always under pressure due to market concerns about the level of global demand in the coming months, while production remains.The price of Brent's North Sea barrel for delivery in January dropped 0.22% to $63.38. Its US equivalent, the West Texas Intermediate barrel (WTI) for delivery in December lost 0.29% to $59.43."Opep+ (the Organization of Petroleum Exporting Countries and its allies) continues to worry …
Oil prices have recovered a little from their previous day's losses on Thursday. On Wednesday, US crude oil data had impacted prices.
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