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US Crude Oil Struggles To Hold $90, Posts Weekly Gain on War in Israel Escalation

From fxdailyreport.com

US crude oil futures struggled to hold $90 to finish the trading week, but they still posted a modest increase on Friday and will record back-to-back weekly gains. Oil prices have been rallying this week on the war in Israel, with investors fearing the global supply deficit will intensify heading into 2024. November West Texas Intermediate (WTI) crude oil futures rose $0.36, or 0.41%, to $88.73 per barrel at 17:52 GMT on Friday on the New York Mercantile Exchange. US crude prices will enjoy a weekly gain of about 1.6%, adding to their year-to-date rally of nearly 11%. Brent, the international benchmark for oil ... (full story)

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  • Category: Fundamental Analysis