Open Demo Account
Home / Market Update / Commodities / Oil Closes Higher on Hopes for Improved Demand Outlook

Oil Closes Higher on Hopes for Improved Demand Outlook

M. Ali 14 October, 2020 12:39 am Commodities, Market Update

Oil prices finished higher on Tuesday supported by an increase in Chinese imports last month, which helped improve the outlook for global demand recovery.

Brent crude futures for December delivery rose by 73 cents, or 1.8%, to settle at $42.45 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for November delivery gained 77 cents, or 2%, to restore the $40 mark and close at $40.20 per barrel.

Tags

Check Also

Explainer: Why Australia Considers Rare Earth Standoff As A Chance

China’s recent escalation in rare earth export controls has sent shockwaves through global markets, tightening …

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