Browsing: oIL

Crude oil prices increased in the global commodities market on Thursday on China’s positive demand expectation.  Brent crude price climbed to $73.25 per barrel while the US benchmark West Texas Intermediate (WTI) also edged higher to $70.1 per barrel.

The global commodities market saw a decline in oil prices as the US dollar rose above its two-year high following the Fed’s rate cut.  Brent declined around $72 per barrel while US WTI plunged below $69 per barrel as dollar gain overshadowed 25 basis points Fed funds rates cut.