Open Demo Account
Home / Market Update / Commodities / Oil Prices Mixed on Unexpected Inventories Buildup

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.

Tags

Check Also

Fed’s Collins sees no urgency to cut US interest rates

Federal Reserve Bank of Boston President Susan Collins hit the wires on Friday, downplaying pressures …

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