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Indonesia News Portal for Traders | Financial & Business Updates

24 October 2024 16:14  |

WTI crude oil futures rose toward $72 per barrel on Thursday

WTI crude oil futures rose toward $72 per barrel on Thursday, following a more than 1% decline in the previous session as markets shifted focus back to the uncertainties surrounding the Middle East conflict.

Despite ongoing diplomatic efforts, the continuous exchange of heavy fire kept investors on edge, monitoring potential supply disruptions in the region and awaiting Israel’s response to Iran’s missile attack.

Meanwhile, oil prices were pressured by a higher-than-expected build in US stockpiles, with the EIA reporting a 5.5 million barrel increase, well above the anticipated 0.7 million barrel rise. Additionally, the dollar index reached its highest level since late July on Wednesday, further dampening demand for dollar-denominated oil. (Cay)

Source : Trading Economi

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