Open Demo Account
Home / Market Update / Commodities / Oil Closes at Lowest Level in Week

Oil Closes at Lowest Level in Week

M. Ali 2 December, 2020 2:06 am Commodities, Market Update

Oil prices fell on Tuesday to their lowest level in about a week, after the OPEC+ alliance delayed its decision regarding output cuts, in a move that was somehow expected.

Brent crude futures for February delivery fell by 46 cents, or 1%, at $47.42 per barrel.

West Texas Intermediate (WTI) crude futures for January delivery declined by 79 cents, or 1.7%, to settle at $44.55 per barrel.

This is the lowest closing level for both contracts since November 23.

Tags

Check Also

Fed Faces Political Heat as Tariffs Stall Inflation Progress and Rate-Cut Path Narrows

Federal Reserve officials delivered a carefully calibrated message Tuesday: the U.S. economy remains resilient, but …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends