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Oil Settles at Highest Level in a Week

M. Ali 4 November, 2020 1:05 am Commodities, Market Update

Oil prices rose on Tuesday to their highest level in a week on election day, on the hopes for a new stimulus package following the US elections and commitment from the OPEC+ to maintain output curbs.

Brent crude futures for January delivery gained 74 cents, or 1.9%, to close at $39.71 per barrel.

Meanwhile, the West Texas Intermediate (WTI) futures for December delivery increased by 85 cents, or 2.3%, and settled at $37.66 per barrel.

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