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Oil Prices Mixed on Unexpected Inventories Buildup

M. Ali 13 November, 2020 1:41 am Commodities, Market Update

Oil prices showed a mixed performance on Thursday, after data showed a surprise increase in crude inventories in the United States.

In addition, concerns about the rising number of Coronavirus cases pressured crude prices despite commitment from the OPEC+ alliance to maintain output curbs.

Brent crude futures for January delivery increased by 25 cents, or 0.6%, to finish at $44.05 per barrel.

Meanwhile, the West Texas Intermediate futures for December delivery fell by 33 cents, or 0.8%, to close at $41.12 per barrel.

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