Crude oil settles at $71.19

News

WTI crude oil futures settled at $71.19, down $0.74, down -1.02%

The move to the downside was helped by China growth concerns and by a stronger USD after much better-than-expected housing starts and Building permits.

Traders are now looking forward to upcoming weekly private inventory and EIA data, as well as other key economic indicators including testimony from Federal Reserve Chair Powell on Wednesday and Thursday. The BOE and SNB announce monetary policy decision this week (on Thursday). UK CPI will also be released on Wednesday. Flash PMI data will be released on Friday in Europe and the US.

Articles You May Like

NASDAQ index pushes for a record close (again)
Oil prices edge higher, on track for 3% weekly gain
October non-farm payrolls preview by the numbers: Hurricane and strike effects in focus
Yen Stabilizes Amid Political Speculation as Wage Growth Hits Record Levels
Consumer confidence surges as election nears, while job openings move lower

Leave a Reply

Your email address will not be published. Required fields are marked *