Brent Edges Above $110/B After 4-Day Fall, Growth Woes Cap Rise

Published on Tuesday, 23 Oct 11:39 am

Brent crude edged up above $110/B on Monday after a four-day decline spurred by persistent worries over a fragile global economy, with supply risks also supporting prices as violence in the Middle East intensified. Brent lost 4% last week and is on track to stretch losses to a second straight month in October amid the global economic uncertainty. But growing violence in parts of the Middle East has helped counter concerns over weak fuel demand (Reuters). A softer dollar also aided the oil benchmark for December delivery which gained 0.3% to 110.44/B, recovering from a session low of $109.47/B, while US oil was up 0.2% at $90.20/B.

Log in or register to post a comment

There are no comments yet.