Oil edges higher, Brent rises above $76

Economies.com
2021-09-23 04:09AM UTC

Oil prices rose on Thursday, as the US dollar fell against its peers, and after a drop in the US crude inventories.

 

The Energy Information Administration reported yesterday that the US crude inventories fell 3.5 million barrels to 414 million barrels during the past week, while analysts forecast a drop by 3.8 million barrels.

 

The market continues to follow Evergrande's crisis and it its impact on the Chinese economy.

 

The People's Bank of China has injected $18.6 billion into the banking system, in attempts to ease global markets' concerns.

 

The dollar index fell against a basket of currencies by 0.1% to 93.3 points as of 03:56 GMT, after it hit a high of 93.5 points and a low of 93.3 points.

 

WTI crude October futures rose 0.2% to $72.4 a barrel.

 

Brent November futures rose 0.2% to $76.4 a barrel.

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price still confined – Forecast today – 29-3-2024
2024-03-29 06:16AM UTC
Natural Gas Price Forecast for Today - 29-3-2024 No news for natural gas price until this ...
Platinum Analysis

Commodities

Platinum price renews the positive action – Forecast today – 29-3-2024
2024-03-29 06:10AM UTC
Platinum Price Forecast for Today - 29-3-2024 Platinum price confirmed keeping the bullish ...
Copper Analysis

Commodities

Copper price gets the positive momentum – Forecast today – 29-3-2024
2024-03-29 06:09AM UTC
Copper Price Forecast for Today - 29-3-2024 Copper price repeated the positive stability ...