Oil trades in tight range ahead of US election

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SINGAPORE: Oil prices traded in a narrow range on Tuesday ahead of what is expected to be an exceptionally close U.S.presidential election, after rising more than 2% in the previous session as OPEC+ delayed plans to hike production in December.

Brent crude futures ticked down 3 cents, or 0.04%, to $75.05 a barrel by 0600 GMT, while U.S.

"Technically, crude oil needs to rebound above resistance at $71.50/72.50 to negate the downside risks," IG's Sycamore said, referring to WTI prices.

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Category: EconomyBusiness

Markets: MalaysiaChinaIraqMexicoSingapore

Topics: Oil Opec WTI Petroleum Brent /Business/Business News Commodities Crude

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 14:22:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

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News ID: 23424582

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