Crude oil futures rose in response to slowing US inflation and strong fuel demand
July 12, 2024 at 10:43 AM GMT+9 (some excerpts)
Crude oil futures rose during Asian time. Investor confidence is growing because strong fuel demand and signs of easing inflationary pressure have been shown in the United States, which is the world's largest oil market.
As of 0031 GMT (9:31 a.m. Japan time), North Sea Brent futures are 0.37 dollars (0.4%) high per barrel = 85.77 dollars, and US WTI crude oil futures are 0.50 dollars (0.6%) high at 83.12 dollars.
Both have continued to grow for the past 2 business days, but North Sea Brent futures are expected to fall by about 1% on a weekly basis for the first time in 5 weeks. WTI is almost flat on a weekly basis.
As of 0031 GMT (9:31 a.m. Japan time), North Sea Brent futures are 0.37 dollars (0.4%) high per barrel = 85.77 dollars, and US WTI crude oil futures are 0.50 dollars (0.6%) high at 83.12 dollars.
Both have continued to grow for the past 2 business days, but North Sea Brent futures are expected to fall by about 1% on a weekly basis for the first time in 5 weeks. WTI is almost flat on a weekly basis.
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