WTI Crude Rises Above $79 with Rate Cut Hopes
On Friday, WTI crude futures strengthened beyond $79 per barrel, poised to conclude the week with upward momentum.
Read MoreOn Friday, WTI crude futures strengthened beyond $79 per barrel, poised to conclude the week with upward momentum.
Read MoreWTI crude futures climbed above $79 per barrel on Thursday, continuing their upward trajectory from the previous session, fueled by a more substantial than anticipated decrease in weekly US crude inventories, which supported oil prices.
Read MoreUS crude oil prices failed to maintain their early gains in Europe on Wednesday, but the recent range in the market remained intact.
Read MoreThe oil market was influenced by several key developments, including the release of the OPEC Monthly Report, the American Petroleum Institute's (API) Crude Oil Stock Change, and the Producer Price Index (PPI) data from the US.
Read MoreOn Tuesday, oil prices remained relatively unchanged or slightly lower, with WTI crude futures trading under $79 per barrel, largely due to concerns stemming from the latest OPEC monthly report.
Read MoreOn Monday, WTI crude futures surpassed the $78.5 per barrel mark as oil traders eagerly awaited insights from OPEC regarding global balances.
Read MoreOn Friday, WTI crude futures approached $80 per barrel, marking a third consecutive session of gains and poised for a robust weekly rise due to an optimistic global demand outlook and ongoing tensions in the Middle East.
Read MoreWTI crude futures surged above $79 per barrel on Thursday, building on gains from the prior session following official data revealing a decrease in US crude stockpiles, indicating a tighter supply.
Read MoreThe US Energy Department's announcement of a bid to purchase 3.3 million barrels to refill the strategic petroleum reserve initially lifted oil prices in the session, but they eventually ended lower.
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