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Oil is volatile ahead of US weekly inventory data

The volume in oil trading has moved to the December contract, which is up $1.78 to $87.14 today.It traded as high as $88.57 just a few hours ago before sinking to $86.25 at the lows. The market is volatile as it tries to figure out what is happening in the Middle East and how this conflict will end (or escalate). The next hurdle for crude traders comes at the bottom of the hour with EIA inventory data. A huge 10.17m barrel build last week stung oil for a short time but it's since recovered.Late... Read More

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Posted: Oct 18 2023, 13:58

Author Name: forexlive

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