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Oil Edges Higher on Outlook for Global Deficit in Final Quarter
Oil opened the new quarter on the front foot, edging higher on widespread bets that global demand is running ahead of supply. West Texas Intermediate advanced above $91 a barrel after soaring 29% in the three months to September, the biggest third-quarter gain in almost two decades. Holidays in many Asia-Pacific nations on Monday, including China and India, may constrain trading volumes in risk assets such as commodities. Oil has rallied since mid-June after the Organization of Petroleum Exporting Countries and its allies curbed crude supplies, Russia banned exports of diesel, and official US data confirmed a ... (full story)
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- Posted: Oct 1, 2023 9:05pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 298
