Reported about 1 year ago
Oil prices steadied as traders awaited the US Energy Information Administration's weekly inventory report, which could indicate a rise in crude stockpiles. Brent hovered around $85 a barrel with West Texas Intermediate above $81, influenced by a light trading session due to a US holiday. The oil market has shown signs of strength in the futures curve recently, leading to decreased volatility for Brent. The market remains optimistic after OPEC+ extended supply cuts, with traders also monitoring demand as Asian refineries resume operations despite challenging margins.
Source: YAHOO