We apologize for the error, there was a mistake in the data feeds. Oil did not trade up today. WTI settled down 52 cents (-0.6%) to close at $82.12. Brent fell 20 cents (-0.2%) to close at $84.47. Oil prices edged lower after investors took profits after two days of gains among fears of an aggressive interest rate hike in the USA. The losses were softened by expectations of a strong economic recovery that will boost the demand in a tightly supplied market. The oil market rally is going strong, despite the Biden administration’s move in November to try to curb rising crude prices by accelerating a previously approved sale of barrels and loaning out another 32M barrels. The U.S. Energy Department said on Thursday it had sold eighteen million barrels of the strategic crude oil reserves to six companies, including Exxon Mobil and a unit of refiner Valero Energy Corp, after saying last year it would sell reserves to try to push down rising oil prices.<\/p>\n\n\n\n
Oil prices edged lower after investors took profits after two days of gains among fears of an aggressive interest rate hike in the USA<\/p>\n","protected":false},"author":2,"featured_media":5082,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-5370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n