neutral
Oil retreats as Russia’s Novorossiysk port resumes operations
Global crude benchmarks weakened on November 17 after Russia restored operations at the Novorossiysk export terminal, easing supply disruption concerns that had driven intraday volatility earlier in the week. Brent crude slipped below the $64-per-barrel mark, while West Texas Intermediate drifted toward $59 as traders reassessed short-term demand conditions across Asia and Europe. The market also continued monitoring Middle East shipping risks and inventory trends from the US Energy Information Administration.
Analysts expect prices to remain range-bound until updated demand guidance and refinery utilization data emerge.
Reuters• By Pooja Kumari
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neutral
Oil retreats as Russia’s Novorossiysk port resumes operations
Global crude benchmarks weakened on November 17 after Russia restored operations at the Novorossiysk export terminal, easing supply disruption concerns that had driven intraday volatility earlier in the week. Brent crude slipped below the $64-per-barrel mark, while West Texas Intermediate drifted toward $59 as traders reassessed short-term demand conditions across Asia and Europe. The market also continued monitoring Middle East shipping risks and inventory trends from the US Energy Information Administration.
Analysts expect prices to remain range-bound until updated demand guidance and refinery utilization data emerge.
Reuters• By Pooja Kumari
Explore:High Return Equity Mutual Fund
1 min read
85 words
Oil prices fell as Russia restored Novorossiysk port activity, pushing Brent below $64 and WTI toward $59 amid easing supply concerns and shifting demand expectations.
Global crude benchmarks weakened on November 17 after Russia restored operations at the Novorossiysk export terminal, easing supply disruption concerns that had driven intraday volatility earlier in the week. Brent crude slipped below the $64-per-barrel mark, while West Texas Intermediate drifted toward $59 as traders reassessed short-term demand conditions across Asia and Europe. The market also continued monitoring Middle East shipping risks and inventory trends from the US Energy Information Administration.
Analysts expect prices to remain range-bound until updated demand guidance and refinery utilization data emerge.
Global crude benchmarks weakened on November 17 after Russia restored operations at the Novorossiysk export terminal, easing supply disruption concerns that had driven intraday volatility earlier in the week. Brent crude slipped below the $64-per-barrel mark, while West Texas Intermediate drifted toward $59 as traders reassessed short-term demand conditions across Asia and Europe. The market also continued monitoring Middle East shipping risks and inventory trends from the US Energy Information Administration.
Analysts expect prices to remain range-bound until updated demand guidance and refinery utilization data emerge.
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