- Analytics
- News and Tools
- Market News
- Oil prices rebounded but remained under pressure amid global oversupply
Oil prices rebounded but remained under pressure amid global oversupply
West Texas Intermediate futures for December delivery climbed to $43.19 (+0.61%), while Brent crude rebounded to $46.07 (+0.57%) after yesterday's declines, but fundamental remained unfavorable. Analysts say that crude oversupply might continue next year. Market participants are waiting for the U.S. Energy Information Administration to report on U.S. crude stockpiles later today. Earlier this week the American Petroleum Institute said U.S. stockpiles likely rose by 6.3 million barrels in the week ending November 6.
The Organization of the Petroleum Exporting Countries (OPEC) will hold a policy meeting next month.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
