empty
 
 

2019.12.3110:07:00UTC+00Crude Oil Futures Hold Near 3-month High

Crude oil prices are moving in a tight band amid thin holiday deals Tuesday morning.

Despite a sluggish display today, oil futures look set for their biggest yearly rise in three years.

West Texas Intermediate crude oil futures for February are up marginally at $61.72 a barrel.

On Monday, WTI crude oil futures for February snapped a four-session winning streak and ended down $0.04 at $61.68 a barrel, after rising to a high of $62.34 earlier in the day.

Oil's recent uptrend is due to easing concerns about the outlook for energy demand following China and the U.S. agreeing on a trade deal. The two countries are most likely to sign the deal sometime in January.

Other significant factors that have contributed to oil's rise are the decision of OPEC and allies to deepen output cuts and extend the period of cuts to March 2020, and the ongoing political unrest in the Middle East.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback