Oil falls as US inventory build prompts profit-taking - Business News, Finance News, Share Market News - Market trendz

Post Top Ad

Friday 21 January 2022

Oil falls as US inventory build prompts profit-taking

Oil prices plunged on Friday, after rising to seven-year highs this week, as an increase in U.S. crude and fuel stockpiles prompted investors to take profits from the rally. Brent crude futures dropped $2.46, or 2.8%, to $85.92 a barrel by 0136 GMT. The contract earlier fell by as much as 3%, the most since Dec. 20. The global benchmark touched $89.50 a barrel on Thursday, its highest since October 2014.

from Commodities-Markets-Economic Times
Read The Rest:economictimes...

No comments:

Post a Comment

Post Bottom Ad