U.S. crude oil prices rise nearly 1%, extend gains to above $71 per barrel
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
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Source: CNBC
Oil Price Trends: U.S. crude oil futures have continued to rise, following a nearly 2% increase in the previous session, as traders perceive a lower likelihood of supply disruptions from Middle East tensions.
Market Influences: Weak demand in China has impacted prices, but recent cuts to Beijing's benchmark lending rates have provided some support to the futures market.
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.
