Crude prices are recording declines in the closing session of the week today, Friday, September 17th (September), and with the beginning of the European period’s trading, as American crude (NYMEX) loses about 0.43% and is trading at levels of $72.30 a barrel, while Brent crude is trading at levels of $75.39 a barrel, down by about 0.37. % Crude is receiving some pressure from the resurgence of supply from the US Gulf of Mexico , which is recovering from Hurricanes Ida and Nicholas .
Despite the morning declines, US crude, Nymex and Brent crude, are heading to record weekly gains of more than 3% by the end of today’s session, in case we do not witness a strong decline in the remainder of the session, despite the decline in commodity prices during the current week affected by the rises of the US dollar, as crude benefits However, production recovery in the US Gulf of Mexico was slower than expected.
US stocks showed a decline last week, according to the US Energy Information Administration’s report, to 6.4 million barrels, as gasoline stocks fell by about 1.8 million barrels, and this data constituted additional support for crude prices during the week.
06/11/2024
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