Open Demo Account
Home / Market Update / Commodities / Oil Settles Higher After Two Declines

Oil Settles Higher After Two Declines

M. Ali 24 December, 2020 12:00 am Commodities, Market Update

Oil prices rose on Wednesday, showing positive recovery signs after two consecutive declines, supported by a decline in crude inventories in the United States.

In addition, the decline of the US Dollar (USD) and renewed hopes for a Brexit trade deal are providing support for crude prices.

Brent crude futures for February delivery closed higher by $1.12, or 2.2%, at $51.20 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for February delivery leveled up by $1.10, or 2.3%, to finish at $48.12 per barrel.

Tags

Check Also

Explainer: Key Factors Indicating US Economic Resilience Amid Tariff Concerns

The US economy is demonstrating resilience despite concerns over President Donald Trump’s tariff policies, with …

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