Open Demo Account
Home / Market Update / Commodities / Oil Closes Higher for First Time in Four Days

Oil Closes Higher for First Time in Four Days

M. Ali 6 August, 2021 2:28 am Commodities, Market Update

Oil snapped a three-session losing streak to close higher on Thursday, amid concerns about the spread of the Delta variant of the coronavirus.

Brent crude futures for October delivery added 54 cents, or 0.8%, to close at $70.92 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for September delivery rose by 54 cents, or 0.8%, to finish at $68.69 per barrel.

A surprise pick-up in U.S. crude inventories also extended yesterday’s decline.

Oil prices remain on track for large weekly losses.

Tags

Check Also

European Equities Remain Range-Bound as Investors Await Progress in U.S.-China Trade Talks

European equity indices traded in tight ranges on Tuesday, with investors closely watching ongoing trade …

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