Oil prices fall, expectation of U.S. crude oil supply easing

At 3:52 p.m. GMT, WTI crude futures were down 0.56% at $67.16.

Brent crude futures fell 0.62% to $69.97.

After both crude oil futures contracts rose about 8% in the past two days.

Increasing global approvals of COVID-19 vaccines and rising vaccination rates in the U.S. have investors hopeful for higher fuel demand.

In addition, there was positive news from China. The world’s largest oil importer reported no new COVID-19 cases.

However, concerns remain about a possible fourth COVID-19 wave. This could lead to renewed closures in isolated countries, which could cause a drop in fuel demand.

On Sunday, Pemex’s offshore oil platform caught fire, affecting oil supplies. It is estimated that approximately 420,000 barrels were affected.

The Spot Market is Open

Thursday.26 Aug-2021

Metals

Updated at
USD

Bid/Ask
Ounce

Change


Low/High
Gold
06.00
1,790.70
1,791.70
+0.20
0.01%
1,790.00
1,791.90
Silver
06.00
23.87
23.97
+0.01
0.06%
23.85
23.97
Platinum
06.00
992.00
1,002.00
0.00
0.00%
992.00
1,003.00
Palladium
04.00
2,361.00
2,511.00
0.00
0.00%
2,361.00
2,511.00
Rhodium
05.00
15,800.00
17,800.00
0.00
0.00%
15,800.00
17,800.00
Energy

Updated at


Price


Change


%Change
Crude Oil
06.00

68.02

-0.34

-0.50%

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