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(Discuss) Crude oil

Andora Andrei

Active member
Oil is intact close to multi-month minimums

On Monday, crude prices were little changed, staying close to multi-month minimums, being dragged down by concerns regarding oversupply as OPEC witnessed record output the previous month and as the American rig count surged again.

In London, January delivery Brent crude futures traded up 4 cents, being worth $44.79 per barrel. On Friday, the given benchmark reached its lowest since August 11, trading at $44.19.

Meanwhile, December delivery NYMEX crude futures dipped 5 cents, trading at $43.36 a barrel. On Friday, the contract concluded down $1.25 having sagged as low as $43.03, the weakest result since September 20.

On Monday, the greenback added to a nine-month peak against other currencies, thus pressuring crude prices.

On Friday, the Organization of the Petroleum Exporting Countries reported that its output ascended to a record 33.64 million barrels a in October, up 240,000 bpd from last month.

OPEC intends to cut or freeze production, though traders are quite skeptical that such a deal will be successfully reached during the cartel's November 30 gathering, and they’re concerned that whatever agreement reached wouldn’t be efficient.


New member
The brent crude was raised at a price of US$1.66 or 2.5% to US$68.71 a barrel, and the global benchmark gained $1.66, or 2.5%, that finished at $68.71 a barrel on ICE Futures Europe.


New member
August Brent crude, the global benchmark, added 1% to settle at $72.22 a barrel on ICE Futures Europe, the highest since May 2019. West Texas Intermediate crude for July delivery rose 1.2% to settle at $70.05 a barrel on the New York Mercantile Exchange.


New member
The Brent crude of the global benchmark settled at $72.22 a barrel on ICE Futures Europe, and Brent crude was unchanged at US$72.22 a barrel. The US Nymex fell by US9 cents or 0.1% to US$69.96 a barrel.


New member
Brent crude rose by US33 cents or 0.4% to US$76.17 a barrel. But the US Nymex price fell by US7 cents or 0.1% to US$75.16 a barrel. Over the week, Brent was steady, while the Nymex (+1.5%) rose for a sixth straight week.


New member
Brent crude rose by US99 cents or 1.3% to around two-year highs of US$77.16 a barrel. And the US Nymex price lifted by US$1.20 or 1.6% to US$76.36 a barrel.


New member
Brent crude fell by US39 cents or 0.5% to US$75.16 a barrel. And the US Nymex price fell by US46 cents or 0.6% to US$74.10 a barrel.

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