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Oil up Over 2 Percent on Tighter Supply

Started by Epoch-Times-Bot, Nov 30, 2022, 06:00 AM

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Epoch-Times-Bot

Nov 30, 2022, 06:00 AM
Oil up Over 2 Percent on Tighter Supply

LONDON—Oil prices rose by over 2 percent on Wednesday on signs of tighter supply, a weaker dollar, and optimism over a Chinese demand recovery.
Brent crude futures rose $2.06, or 2.48 percent to $85.09 per barrel by 1044 GMT. The more active February Brent crude contract rose by 2.02 percent to $85.95.
U.S. West Texas Intermediate (WTI) crude futures climbed $1.69, or 2.16 percent, to $79.89.
Support followed expectations of tighter crude supply.
Official figures on U.S. crude oil stocks are due from the U.S Energy Information Administration on Wednesday.
And the International Energy Agency expects Russian crude production to be curtailed by some 2 million barrels of oil per day by the end of the first quarter next year, its chief Fatih Birol told Reuters on Tuesday....

Source: Oil up Over 2 Percent on Tighter Supply

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