October WTI crude oil (CLV26) on Friday closed down -2.43 (-2.37%), and October RBOB gasoline (RBV26) closed down -0.0860 (-2.53%).
Oct WTI oil prices on Friday fell back after Thursday's +6.7% rally to a 3.5-month high. Oil prices fell back after the International Energy Agency (IEA) on Friday warned that high oil prices and restricted oil supply will cause the biggest drop in global oil demand this year since the Covid-19 pandemic. Despite the projected demand drop, the IEA raised its estimate for this year's global oil deficit to 1.7 million bpd from last month's 1.3 million bpd estimate due to the restricted supply caused by the US-Iran war. The IEA said the return of a global oil surplus will be delayed until 2027, later than its previous estimate of late 2026.
Crude Oil Prices Soar on Fears US-Iran War to Persist
Crude Oil at $100 Gets All the Attention. Watch These 5 Charts to Track the Energy Market Mechanics Behind the Headlines.
Nat-Gas Prices Recover as European Nat-Gas Surges
#prices #estimate #october #closed
Oct WTI oil prices on Friday fell back after Thursday's +6.7% rally to a 3.5-month high. Oil prices fell back after the International Energy Agency (IEA) on Friday warned that high oil prices and restricted oil supply will cause the biggest drop in global oil demand this year since the Covid-19 pandemic. Despite the projected demand drop, the IEA raised its estimate for this year's global oil deficit to 1.7 million bpd from last month's 1.3 million bpd estimate due to the restricted supply caused by the US-Iran war. The IEA said the return of a global oil surplus will be delayed until 2027, later than its previous estimate of late 2026.
Crude Oil Prices Soar on Fears US-Iran War to Persist
Crude Oil at $100 Gets All the Attention. Watch These 5 Charts to Track the Energy Market Mechanics Behind the Headlines.
Nat-Gas Prices Recover as European Nat-Gas Surges
#prices #estimate #october #closed
7 hours ago
