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Commodity: Oil prices fall on Monday

11/11/2024
Source : ORISHAS FINANCE
Categories: Raw materials

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As the threat of a supply disruption due to an American storm has subsided and China's recovery plan has disappointed investors looking to fuel demand growth in the second pays consommateur de pétrole au monde, oil prices continued to fall on Monday

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Brent oil futures lost 19 cents, or 0.3%, to $73.68 per barrel at 0104 GMT, while West Texas Intermediate oil futures were at $70.13 per barrel, down 25 cents, or 0.4%. Both references fell by more than 2% last Friday. Oil prices also fell after fears of a supply disruption due to Storm Rafael in the Gulf of Mexico in the United States were allayed. According to industry executives and experts, oil markets are also supported by firm demand from American refiners who are expected to operate their factories at over 90% of their crude processing capacity due to low inventories and improved demand for gasoline and diesel

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