BMI Predicts Decline In Oil Prices, Citing OPEC+ And US Election

Business TodayNov 8 02:00 ET

OPEC+ has extended the duration of production cuts, the decrease in supply is helping the oil price bottom rebound.

The overall trend of crude oil is showing a volatile upward trend. The average price of WTI this week is $70.78 per barrel, up $1.75 per barrel, or 2.53%, from the previous week. During the week, the main factors boosting oil prices include: OPEC+ extending production cuts, hurricanes leading to a reduction in US oil production, and ongoing uncertainty in the Middle East geopolitical situation. The main factors putting pressure on oil prices include: EIA's increase in crude oil and petroleum product inventories.

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Oil Prices Rise As Investors Weigh US Election Impact And Supply Disruptions

Business TodayNov 7 18:49 ET

NYMEX Overview: Oil Sees Small Gains as Dollar Value Eases -- OPIS

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Oil Edges Higher Ahead of Fed Decision -- Market Talk

WSJNov 7 12:09 ET

WTI Price Forecast: Breaks Below $71.50, Ascending Channel Pattern

FXStreetNov 7 03:15 ET