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Oil prices rebound on supply concerns after drop to near 6-month low

From financialpost.com

Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signaled weak fuel demand. Brent crude futures rose 42 cents, or 0.4%, at $97.20 a barrel by 0250 GMT, while West Texas Intermediate (WTI) crude futures was last up 49 cents, a 0.5% gain, at $91.15. Both benchmarks fell to their weakest levels since February in the previous session after U.S. data showed crude and gasoline stockpiles unexpectedly surged last week and as OPEC+ agreed to raise its oil output target by 100,000 barrels per day (bpd), equal to about 0.1% of global oil ... (full story)

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  • Category: Fundamental Analysis