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Oil steady as investors weigh weak demand, potential delay to OPEC+ output hike
Oil was attempting to hold its line in early trade on Thursday after an overnight sell-off, as players grappled with weak demand alongside a possible delay to more supply entering the market next month. Brent crude futures for November rose 9 cents, or 0.12%, to $72.79 at 0002 GMT after dropping 1.42% in the previous session. U.S. West Texas Intermediate crude futures for October were up 12 cents, or 0.17%, to $69.32 after dropping 1.62% on Wednesday. Both benchmarks settled $1 lower at Wednesday’s close. OPEC+ is discussing delaying its oil output increase, scheduled to start in October after oil prices tanked to ... (full story)
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- Posted: Sep 5, 2024 2:18am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 153
