Oil Halts Declines as Report Points to Large US Stockpile Draw
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 18 2024
0mins
Source: Yahoo Finance
Oil Market Stability: Oil prices stabilized after a two-day decline, with West Texas Intermediate above $70 a barrel and Brent near $73, following a report indicating a significant drop in US crude inventories.
Geopolitical Influences: The market remains influenced by geopolitical tensions and sanctions on Iran and Russia, while expectations of increased US production under the new administration could keep prices within a $70 to $75 range.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
