U.S. crude oil is trading around $76 per barrel as demand weighs on the market.
U.S. crude oil has been trading in a range between $75 and $80 per barrel over the past week, with the market caught between geopolitical tensions and supply and demand fundamentals.
U.S. Secretary of State Antony Blinken is in the Middle East, making another push for a cease-fire deal in Gaza.Crude oil futures fell for the fourth day in five Monday, as the U.S. pushed to secure a cease-fire deal to the end the fighting in Gaza and worries about softening demand weighed on the market.
U.S. Secretary of State Antony Blinken is in Israel, where he warned this may be the"last opportunity" to secure a deal that ends the fighting and frees hostages held by Hamas home.U.S. crude oil has been trading in a range between $75 and $80 per barrel over the past week, with the market caught between geopolitical tensions in the Middle East that could disrupt supplies and push prices higher, and supply and demand fundamentals leading the other way.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly "The bearish view is simple, and in the medium term, slowing economic activity, weakness in Asia, and softer refinery margins all don't bode well for crude prices going into year-end," Brian Leisen, global oil strategist at RBC Capital Markets, told clients in a note Sunday.Food & Drink
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