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- WTI snap back from monthly lows
WTI snap back from monthly lows
Crude oil futures were higher Thursday morning, extending this week's rally despite a stronger U.S. dollar.
Oil rebounded amid renewed confidence that OPEC will heed warnings of a devastating global supply glut and agree to production cuts at an upcoming meeting, rttnews says.
WTI light sweet crude oil for December was up having snapped back from a multi-month low near $42.
Oil surged up 5.75% on Tuesday.
Upside was capped by a stronger U.S. dollar amid a flurry of economic news this morning.
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