Oil Prices Fluctuate as Market Awaits US Reserve Data
Oil prices continue to fluctuate, with WTI crude currently priced at $62.266 per barrel and Brent crude at $66.362 per barrel. Wednesday saw prices rise, with Brent reaching $66.25 and WTI touching $62.56. Today, the stock market awaits official US oil reserve data, which could influence prices.
On Wednesday, oil prices climbed. Brent crude, the global benchmark, surged to $66.25, while WTI, the US benchmark, peaked at $62.56. This uptick comes despite a build in US oil reserves, reported by the American Petroleum Institute at 2.8 million barrels. The stock market seems unfazed by this increase, suggesting other factors are at play.
Looking at the US WTI oil for December delivery, the current price stands at around $61.95 per barrel. This marks a slight increase from the previous day's close of $61.74. This upward trend indicates a positive shift in stock market sentiment.
As of now, WTI crude is priced at $62.266 per barrel and Brent crude at $66.362 per barrel. Today's official government data on US oil reserves will be crucial in dictating the stock market's next move. Despite a rise in US oil reserves, prices remained stable, suggesting other factors are influencing the stock market.
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