Commodities

Oil prices mixed, US crude consolidates above $41

2020-09-18 18:19:29 GMT (Economies.com)

Oil prices saw mixed performance on Friday, as traders parse the damage caused by Hurricane Sally and the level of demand improvement or the lack thereof.

 

The Saudi energy minister warned what he descried as "market gamblers" that they would "be ouching like hell."

 

OPEC-Plus' joint ministerial monitoring committee confirmed that there is pressure on demand due to the rising coronavirus cases and speculation of a second wave of infections.

 

The dollar index fell against a basket of currencies by 0.1% to 92.8 points as of 18:13 GMT, after hitting a high of 93.01 and a low of 92.7.

 

As of 18:10 GMT, WTI October futures at Nymex rose 0.1% to $41.01 a barrel, after hitting a high of $41.4 and a low of $40.3.

 

 Brent November futures fell 0.5% to $43.06 a barrel, with a high of $43.8 and a low of $42.5.    

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