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Intercontinental Exchange Newsroom
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Crude Oil in the USA closed up 1.8% on Friday and rose 6.1% this week.
In the early hours of the 14th, Beijing time, international crude oil prices rose on Friday, with USA WTI crude oil recording its first increase since the end of November. The market is evaluating the future supply and demand outlook for the crude oil market. The February delivery Brent crude oil futures price on the European Intercontinental Exchange increased by 1.08 dollars, a rise of 1.47%, closing at 74.49 dollars per barrel. The January delivery West Texas Intermediate (WTI) crude oil futures price on the New York Commodity Exchange rose by 1.27 dollars, an increase of 1.81%, closing at 71.29 dollars per barrel, the highest since November 7. WTI crude oil has cumulatively increased by more than 6.08% this week.
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On Thursday, Crude Oil in the USA slightly declined as the market focused on the international oil supply and demand relationship.
In the early hours of the 13th in Peking time, the price of Crude Oil futures in the USA experienced a slight decline on Thursday. The International Energy Agency (IEA) predicted that the oil market would have sufficient supply, which offset the rising optimism regarding expectations for interest rate cuts in the USA. The price of Brent crude oil futures for February delivery on the European Intercontinental Exchange fell by 11 cents, settling at $73.41 per barrel. The price of West Texas Intermediate (WTI) crude oil for January delivery on the New York Commodity Exchange decreased by $0.27, a decline of 0.38%, closing at $70.02 per barrel. The International Energy Agency (IEA) stated on Thursday that it anticipates a sufficient supply in the oil market next year, but it slightly revised its forecast upward.
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