Oil futures held steady as investors weighed possible market directions
International oil markets experienced minor fluctuations on Tuesday, 14 November 2023 as investors weighed the impact of the easing tension in the Middle East against the higher 2024 oil demand forecast
International oil markets experienced minor fluctuations on Tuesday, 14 November 2023 as investors weighed the impact of the easing tension in the Middle East against the higher 2024 oil demand forecast by the International Energy Agency (IEA). Gains were tempered by uncertainties surrounding U.S. oil inventory reports. The U.S. Energy Information Administration (EIA) is set to release its first oil inventory report in two weeks.
Brent inched 5 cents lower by the end of the trading day, closing at $82.47/barrel.
WTI crude remained stable, holding at $78.26 per barrel throughout the mentioned timeframe.