The U.S. benchmark, WTI Crude, fell 2.09% to $90 a barrel at press time, while Brent Crude was down 1.76% to $91.33.
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This Week’s Market Buzz
• The North American benchmark price for oil surged at press time to more than $90 a barrel – its highest level since 2014. The March crude oil contract for West Texas Intermediate closed at $90.27 per barrel, up $2.01 per barrel, bolstered by geopolitical tensions and supply concerns.
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At press time, Brent futures fell 67 cents, or 0.8%, to $87.71 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 58 cents, or 0.7%, to $84.97.
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At press time, Brent crude fell 49 cents, or 0.6%, to $81.54 a barrel, while U.S. West Texas Intermediate (WTI) crude was down 77 cents, or 1%, to $78.69 a barrel.
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Brent crude futures were up 99 cents, or 1.3%, at $75.41 a barrel at press time, while U.S. West Texas Intermediate (WTI) crude futures rose $1.08, or 1.5%, to $72.02.
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• Oil prices dipped at press time, as Brent crude fell $5.40, or 6.5%, to $76.82 a barrel and U.S. West Texas Intermediate (WTI) crude was down $5.82, or 7.4%, at $72.57 a barrel, after the Thanksgiving holiday.
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Oil prices were steady at press time as the market grappled with a stronger U.S. dollar along with concern over increasing U.S. inflation, and after OPEC cut its 2021 oil demand forecast due to high prices. Brent crude futures were down 8 cents to $82.56 a barrel after falling earlier to $81.66. U.S. West Texas Intermediate (WTI) futures were down…
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• Oil rose further above $84 a barrel at press time, within sight of a multi-year high as expectations OPEC and its allies will keep supplies tight countered rising U.S. inventories and the prospect of more Iranian exports. Brent crude rose 27 cents, or 0.3%, to $84.59 a barrel, while U.S. West Texas Intermediate crude added 27 cents, or 0.3%,…
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At press time, Brent crude was $83.33 a barrel. It earlier hit a high of $84.23 a barrel and a low of $82.72 a barrel. West Texas Intermediate rose to $80.58 a barrel, after ranging between $81.62 and $79.47.
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• Goldman Sachs ramped up its already optimistic forecast calling for Brent crude to hit $90 a barrel by the end of the year. That’s up from its previous call for $80. The Wall Street bank expects U.S. crude to hit $87 a barrel, up from $77 previously.
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