Oil drilling rigs
Oil prices closed lower today, Oct. 16, despite a weaker dollar and amid supply fears against the backdrop of the potential escalation in the Middle East region.
Futures contracts for standard Brent crude for December delivery fell by 1.3%, or $1.24, to $89.65 per barrel.
WTI crude contracts for November delivery also fell by 1.2%, or $1.03, to $86.66 per barrel.
The dollar index, which measures its value against a basket of major currencies, fell by 0.40% to 106.24 points, at 09:54 pm Makkah time.
Today’s losses fallowed the sharp gains on Oct. 13, and in light supply risks due to tensions in the Middle East. Meanwhile, reports claimed that the US was considering an agreement with Venezuela to ease oil sanctions.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}