Jul 23, 2024 9:30 a.m.

Oil slid more than 1% as US supply concerns subsided

International benchmarks for crude oil concluded the trading session on Tuesday, 09 July more than 1% lower as Hurricane Beryl left less damage to the oil-producing hub in Texas than initially feared.

Title

Available in

International benchmarks for crude oil concluded the trading session on Tuesday, 09 July more than 1% lower as Hurricane Beryl left less damage to the oil-producing hub in Texas than initially feared. 

The trading session also swung sharply within the $1 range in reaction to the FED Chairman’s testimony to the US Congress.

Brent shed $1.09 or 1.3% to close at $84.66/barrel.

WTI fell 92 cents or 1.1% to close at $81.41/barrel.

 

 

Written by: Rochelle Nguyen