14 Nov, 23

Oil Gains On OPEC Demand Positivity, Fed Flip

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Oil prices were climbing upwards midday Monday, with Brent crude gaining over 1.6% after the market digested an OPEC report suggesting demand in the U.S. and China is not lowering to the point of concern.  The markets were also responding to unclear indications from the U.S. Federal Reserve about a potential end to rate hikes, with various investment banks speculating on rate reductions in the next 12 months.  At 12:45 p.m. EST on Monday, Brent crude was trading at $82.74, up 1.61% for a $1.31 gain on the day. West Texas Intermediate…

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