Crude Oil Price Update, 31 August 2023: Oil Rises on fall in inventory

Brent Crude Oil Price Forecast: Signs of a Major Reversal Appearing

Crude oil has witnessed elevated prices for the better part of 2H 2021 on the back of the global economic recovery which has taken place ever since the April 2020 low. However, oil had some difficulty surpassing the 2018 high at the historically important $86.67 area (highlighted with blue circles).

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Gold

Commodity Trading Strategies: Gold, Silver, Crude, Base Metals

Commodity Trading Strategies: Commodity prices traded on a mixed note on Thursday, as bullion prices traded steady on pandemic worries while crude oil prices declined on demand growth worries and inventory build. Base metals complex traded on a weak note as they pared gains from the previous session. Here is a look at how different commodities are behaving in today’s market.

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Crude Oil reserves in America fell more than expected, crude oil crossed $95

Oil Jumps On Large Crude Inventory Draw

Gold Silver Reports (GSR) – Crude oil prices inched higher today after the EIA released its latest Weekly Petroleum Status Report, in which the authority said crude oil inventories had fallen by 8.6 million barrels in the week to February 22, though they are still above the seasonal five-year average.

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