Crude on Track for First Weekly Gain in Eight-Weeks - Flux News
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Crude on Track for First Weekly Gain in Eight-Weeks

The crude futures have been choppy all week and by Friday morning we saw levels largely trading around the $76-77/bbl handles. 

Brent prices sank to their lowest since June on Tuesday after being sold off to $73.24/bbl.

With the US Federal Reserve signalling interest rate cuts next year despite continuing to hold rates at a 22-year high, Brent prices found support again.  Prices were also supported by a second consecutive EIA-announced crude oil draw of over 4.2million barrels alongside a revision of the IEA’s oil demand growth forecast from 930 kilo barrels per day to 1.1 million barrels per day.  

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Our team of skilled analysts, by utilising the depth and breadth of Flux's proprietary data, position ourselves at the cutting edge of market analysis. This unique vantage point grants us an unparalleled perspective in the market, enabling us to identify emerging trends and lucrative opportunities.

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