Open Demo Account
Home / Market Update / Commodities / Oil Prices Rise but Record Monthly Losses

Oil Prices Rise but Record Monthly Losses

M. Ali 1 October, 2020 1:39 am Commodities, Market Update

Oil prices ended Wednesday higher after data showed an unexpected decline in crude inventories in the United States.

Brent crude futures for December delivery rose by 74 cents, or 1.8%, to finish at $42.30 per barrel.

The global benchmark crude oil posted a 9.6% monthly decline, which is the first since April. This has led to a 0.5% decline during the third quarter (Q3) of 2020.

Meanwhile, the US West Texas Intermediate (WTI) crude futures for November delivery added 93 cents, or 2.4%, and closed at $40.22 per barrel, falling 5.6% in September and rising by 2.4% in Q3 of 2020.

Tags

Check Also

Sterling Under Pressure as Global Tensions Lift the Dollar

The British Pound struggled to maintain momentum at the end of the week, hovering just …

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