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Crude Oil Nov 24 (CLX24.NYM)

NY Mercantile - NY Mercantile Delayed price. Currency in USD
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70.36+3.88 (+5.84%)
As of 04:43PM EDT. Market open.
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    WoodMac: Oil Prices Could Surprise To The Upside With China’s Reopening

    China has a history of under-promising and over-delivering on economic growth, a trend that means there is plenty of upside for oil prices.


    Crude oil lower on growth concerns, rising U.S. inventories

    Oil prices retreated Thursday, snapping a three-day rally, after a surprise rise in U.S. crude stockpiles and with the Federal Reserve highlighting global growth concerns. By 09:15 ET (13:15 GMT), U.S. crude futures traded 0.2% lower at $70.77 a barrel, while the Brent contract fell 0.2% to $76.57 a barrel. The Fed hiked interest rates as expected on Wednesday, but downgraded its GDP outlook for the year, expecting the U.S. economy to grow 0.4% this year, down from previous expectations of 0.5%.


    Oil Prices Under Pressure From Oversupply And Economic Uncertainty

    Oil prices fell on Thursday morning as the market digested Jerome Powell’s latest statement and settled in for two months of oversupply.