Oil Slight Decline amid Anticipation of US Elections

  • International
  • 5 November 2024
1

Oil prices fell slightly on Tuesday, amid uncertainty over the U.S. presidential election, after rising more than 2% in the last session after OPEC+ delayed plans to increase output in December and supply concerns eased.

Brent crude futures fell 15 cents, or 0.2%, to $74.93 a barrel. U.S. West Texas Intermediate crude fell 14 cents, or 0.2%, to $71.33 a barrel.

Oil prices were supported by an announcement by the Organization of the Petroleum Exporting Countries and its allies, the group known as OPEC+, to delay the output increase by a month from December amid weak demand and rising non-OPEC supplies.

 

Source (Al-Arabiya.net Website, Edited)

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