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US Hurricane Risks Supporting Crude
Crude prices are looking a little more buoyant today following heavy selling over last week. Crude futures were seen sliding from the 77.64 level down to support at 67.45 where they are stalled for now. News of an incoming storm in the US Gulf Coast is providing some upside pressure for prices on expected supply disruption. Expectations of potential supply disruption are adding to support for oil on the back of last week’s OPEC+ announcement. The cartel and its allies announced that it will delay a planned increase in output of 200k barrels per day for October by two months. The move comes amidst a fresh fall in ... (full story)
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- Posted: Sep 9, 2024 10:01am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 112
