Open Demo Account
Home / Market Update / Commodities / Oil Retreats And Gives up Some of Its Gains

Oil Retreats And Gives up Some of Its Gains

Adel 13 January, 2022 1:35 pm Commodities, Market Update

Oil prices fell on Thursday, January 13, giving up some of their gains in the previous two sessions, amid uncertainty about demand in the near term as Omicron infections surged around the world.

US benchmark West Texas Intermediate crude contracts fell 20 cents, or 0.2%, to $82.44 a barrel at 05:03 GMT, after rising 1.7% in the previous session.

The international benchmark Brent crude contracts also fell 19 cents, or 0.2%, to $ 84.48 a barrel, after rising 1.3% yesterday.

Data from the US Energy Information Administration yesterday showed that fuel demand was affected by Omicron, as gasoline stocks rose 8 million barrels in the week ending January 7, compared to analysts’ expectations for an increase of 2.4 million barrels.

Tags

Check Also

Could USDT Removal Impact EU Amid Crypto Boom Promised By Trump?

The European Union’s Markets in Crypto-Assets (MiCA) regulation, designed to enhance transparency and combat financial …

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