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[size=36]After a rally, oil returns to the red zone[/size]
Economie| 11:08 - 26/10/2021
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Follow-up - Mawazine News:
Oil prices fell, on Tuesday, after a rally driven by strong demand in the United States, the largest consumer of oil and its derivatives in the world.
US West Texas Intermediate crude futures fell 0.3 percent to $83.55 a barrel, by 01:43 GMT.
Brent crude futures also fell 0.2 percent to $85.79 a barrel, after rising 0.5 percent on Monday.
"The outlook for a cooler November has energy traders bracing for a very tight market with unprecedented demand this winter," Edward Moya, chief market analyst at OANDA, said in a note.
For its part, Goldman Sachs said that a strong recovery in global oil demand could push Brent crude prices.
After more than a year of reduced demand for fuel, consumption of gasoline and distillates is back in line with five-year averages in the United States.
Oil prices fell, on Tuesday, after a rally driven by strong demand in the United States, the largest consumer of oil and its derivatives in the world.
US West Texas Intermediate crude futures fell 0.3 percent to $83.55 a barrel, by 01:43 GMT.
Brent crude futures also fell 0.2 percent to $85.79 a barrel, after rising 0.5 percent on Monday.
"The outlook for a cooler November has energy traders bracing for a very tight market with unprecedented demand this winter," Edward Moya, chief market analyst at OANDA, said in a note.
For its part, Goldman Sachs said that a strong recovery in global oil demand could push Brent crude prices.
After more than a year of reduced demand for fuel, consumption of gasoline and distillates is back in line with five-year averages in the United States.
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