WTI down over 1% after US stockpiles rise
West Texas Intermediate (WTI) futures fell by more than 1% on Friday as a rise in United States oil inventories significantly exceeded estimations and still seemed to affect oil markets. Furthermore, Iran announced that it could resume negotiations on the nuclear deal and sanctions imposed against the country, including those related to its oil exports, “before the end of November.”
Earlier in the day, US oil giants Chevron and ExxonMobil released their latest quarterly figures.
WTI for settlements in December decreased 1.26% to sell for $81.75 per barrel at 9:17 am ET, while Brent for deliveries in the same month was down 0.31%, going for $84.05 per barrel a minute later.
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