Crude Oil price steadies on Friday and tries to claim the $70 level after surging over 4.5% so far this week, fueled by fresh escalation between Russia and Ukraine.
Crude Oil flirts with a weekly gain of 5%, fueled by geopolitical news. Russia has put a Polish military base on top of its target list for the next retaliation. The US Dollar Index broke a fresh two-year high after preliminary European PMIs cast a recession shadow over Europe. Both countries are rushing to get the tactical upper hand ahead of possible resolution talks once President-elect Donald Trump takes office in January 2025.
, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute and the Energy Information Agency impact the price of WTI Oil.
is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When increases production, it has the opposite effect.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crude Oil aims for $70 as geopolitical tensions drive prices higherCrude Oil prices are ripping higher for a third day in a row on Wednesday, getting close to the $70 round level, as geopolitical tensions – namely the escalation in the war between Russia and Ukraine – take over market sentiment to the detriment of stockpile data.
Read more »
Crude Oil tries to break above $70 as Moscow fires intercontinental ballistic missile into UkraineCrude Oil prices are trying to break above $70 for a second consecutive day, fueled by headlines that Russia has launched a ballistic missile into Ukraine for the first time in the war, Bloomberg reports.
Read more »
The Google Nest wired indoor camera is just $70 for Amazon Black Friday WeekLawrence is a contributing reporter at Engadget, specializing in our AI overlords, musical doodads and, of course, garden variety gaming and tech. To that end, Lawrence once lost badly in multiplayer Mario to Nintendo’s own Shigeru Miyamoto, who laughed gleefully as he threw him down a pit.
Read more »
The Breville Smart Oven Air Fryer is $70 off for Black Friday on AmazonWill Shanklin has been writing about gadgets, tech and their impact on humanity since 2011. Before joining Engadget, he spent five years creating and leading the mobile technology section for New Atlas. His work has also appeared on SlashGear, TechRadar, Digital Trends, AppleInsider, Android Central, HuffPost and others.
Read more »
Black Friday deals bring the Google Nest wired indoor camera down to just $70Lawrence is a contributing reporter at Engadget, specializing in our AI overlords, musical doodads and, of course, garden variety gaming and tech. To that end, Lawrence once lost badly in multiplayer Mario to Nintendo’s own Shigeru Miyamoto, who laughed gleefully as he threw him down a pit.
Read more »
All-Inclusive OneAir Lifetime Travel Subscription Is Just $70 for an Early Black Friday SpecialSave thousands on travel costs with the OneAir subscription for just $70, and earn up to 10% in cash rewards on most bookings.
Read more »