
Oil eased off of multiyear highs with U.S. industrial data showing signs of weakness while traders assessed an ongoing natural gas crisis.
Futures in New York closed 0.2% higher on Monday. U.S. September industrial production fell 1.3%, below estimates. Still, a shortage of natural gas is creating extra demand for oil products like fuel oil and diesel from the power generation sector, keeping oil prices propped up. Plus, the OPEC+ alliance is still only adding incremental, monthly supplies, and some members aren’t expected to meet current output targets.
"Oil" - Google News
October 18, 2021 at 05:29AM
https://ift.tt/3jf7f6B
Crude Oil Pares Gains After Hitting Multiyear Highs - Bloomberg
"Oil" - Google News
https://ift.tt/2SukWkJ
https://ift.tt/3fcD5NP
Bagikan Berita Ini
0 Response to "Crude Oil Pares Gains After Hitting Multiyear Highs - Bloomberg"
Post a Comment