Oil rises as investors look past possible reserve releases – Reuters
- Date: 19-Nov-2021
- Source: Reuters
- Sector:Financial Markets
- Country:Gulf
Oil rises as investors look past possible reserve releases – Reuters
TOKYO, Nov 19 (Reuters) - Oil prices rose on Friday, after wild swings the day before, on investor concerns that potential coordinated releases by the world's major economies of their official crude reserves to try to lower pricesmay have less of an impact than expected.
Brent crude was up 53 cents, or 0.7%, at $81.77 a barrel by 0437 GMT, after falling to a six-week low on Thursday before rebounding to close 1.2% higher.
U.S. West Texas Intermediate (WTI) crude for December delivery was up 49 cents at $79.50 a barrel, having swung through a more than $2 range the previous session before closing up.
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