Oil Prices Drop: Brent at $79.49, WTI at $76.36 per Barrel
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowBrent crude futures declined 0.45% to $79.49 per barrel, while U.S. West Texas Intermediate futures fell 0.31% to $76.36 per barrel. More than 12 million barrels crossed the Strait of Hormuz overnight, indicating a recovery in shipping activity. OPEC Secretary General Haitham Al Ghais stated that demand is not expected to peak soon and dismissed predictions of an imminent supply glut. Analysts suggest oil prices could trade between $75 and $82 per barrel in the near term, highlighting market caution regarding normalization of shipping operations.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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