Oil: Prices oscillate between gains and losses : Orishas-finance

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Oil: Prices oscillate between gains and losses

12/08/2022

Categories: Raw materials

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Oil: Prices oscillate between gains and losses

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Oil hesitates between more resilient demand and a larger market. As a result, prices fluctuated between gains and losses, torn between better-than-expected global demand forecasts and a market that should be heavily supplied in the coming months.

Around 09:50 GMT (11:50 CET), the barrel of Brent from the North Sea for delivery in October rose 0.66% to $100.26, again above the symbolic threshold of $100 per barrel. Meanwhile, the American West Texas Intermediate (WTI) barrel for delivery in September gained 0.34% to 94.65 dollars.

Thursday's upward revision of global oil demand by the International Energy Agency (IEA) gave new impetus to the rise in crude prices.

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