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Oil prices gained ground on Friday amid optimistic demand forecasts from the OPEC producer group and the International Energy Agency (IEA). Brent crude was up 37 cents, or 0.4%, at $86.77 a barrel at 1413 GMT while U.S. West Texas Intermediate (WTI) crude futures were up 40 cents, or 0.5%, at $83.22. Both benchmarks have been on a sustained rally since June, with WTI trading on Thursday at its highest this year and Brent hitting its highest since late January. The IEA on Friday warned that global inventories could fall sharply over the rest of
August 11, 2023Oil prices gained ground on Friday amid optimistic demand forecasts from the OPEC producer group and the International Energy Agency (IEA). Brent crude was up 37 cents, or 0.4%, at $86.77 a barrel at 1413 GMT while U.S. West Texas Intermediate (WTI) crude futures were up 40 cents, or 0.5%, at $83.22. Both benchmarks have been on a sustained rally since June, with WTI trading on Thursday at its highest this year and Brent hitting its highest since late January. The IEA on Friday warned that global inventories could fall sharply over the rest of
August 11, 2023
– Oil prices gained ground on Friday amid optimistic demand forecasts from the OPEC producer group and the International Energy Agency (IEA). Brent crude was up 49 cents, or 0.6%, at $86.89 a barrel at 1118 GMT while U.S. West Texas Intermediate (WTI) crude futures were up 49 cents, or 0.6%, at $83.31. Both benchmarks have been on a sustained rally since June, with WTI trading on Thursday at its highest this year and Brent hitting its highest since late January. The IEA on Friday warned that global inventories could fall sharply over the rest
August 11, 2023
– Oil prices held near recent highs on Friday amid optimistic demand forecasts from the OPEC producer group and the International Energy Agency (IEA). Brent crude was down 12 cents, or 0.1%, at $86.28 a barrel at 0910 GMT while U.S. West Texas Intermediate (WTI) crude futures were down 7 cents, or 0.1%, at $82.75. Both benchmarks have been on a sustained rally since June, with WTI trading on Thursday at its highest this year and Brent hitting its highest since late January. The IEA on Friday warned that global inventories could fall sharply over
August 11, 2023
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