Oil market surged more than 2% on revived risk appetite.
International benchmarks for crude oil rose more than 2% on Thursday, 2 November 2023, halting a three-day declining streak as investors returned to the market with a stronger risk appetite
International benchmarks for crude oil rose more than 2% on Thursday, 2 November 2023, halting a three-day declining streak as investors returned to the market with stronger risk appetite after the FED kept key interest rates unchanged. Supporting the market is also the expectation that Saudi Arabia and Russia would stick to the production output cut in the coming meeting.
Brent rose $2.22 or 2.6% to close at $86.85/barrel.
WTI gained $2.23 or 2.8% to settle at $82.67/barrel.