WTI crude oil futures rose more than 1%, breaking through the $84 level as investors sent speculative buying into the market. After the price plummeted heavily earlier
At 9:39 p.m. Thai time, the West Texas Crude Oil Contract (WTI) will be delivered in November. which was traded on the NYMEX market, added $1.11 or 1.33% to $84.60/barrel.
In addition, oil prices were supported by the International Energy Agency (IEA) increasing its forecast for oil demand this year to 2.3 million barrels per day. from the original forecast of 2.2 million barrels/day.
Investors will be keeping an eye on today’s U.S. Energy Information Administration (EIA) crude oil stocks release after the American Petroleum Institute (API) said crude stocks rose 12.9 million barrels last week. while analysts expected an increase of only 500,000 barrels.
2023-10-12 15:02:45
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