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Crude surges to 10-month high, gold prices decline on US inflation expectations
The optimism of the Oil and Petroleum Exporting Countries (OPEC) for revival of energy demand in major economies pushed oil prices to a near-10-month high on September 13.
As a result, Brent futures climbed $1.42, or 1.6 percent, to settle at $92.06 a barrel, while WTI crude settled at $88.84, up $1.55, or 1.8 percent.
Despite closing at their highest levels since November 2022, both the benchmarks were technically overbought for the eighth straight day.
As a result, Brent futures climbed $1.42, or 1.6 percent, to settle at $92.06 a barrel, while WTI crude settled at $88.84, up $1.55, or 1.8 percent.
Despite closing at their highest levels since November 2022, both the benchmarks were technically overbought for the eighth straight day.
As investors await US inflation data that could affect the Federal Reserve interest rate expectations, gold prices fell on September 13 despite trading above a more than two-week low hit in the previous session. $S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Occidental Petroleum (OXY.US)$ $Chevron (CVX.US)$ $Exxon Mobil (XOM.US)$
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