Oil prices closed higher today as OPEC+ failed to hit its own production target by 3.53 million barrels per day for August. It was an extremely volatile trading session but at the end of the day, Brent crude for November delivery closed up 65 cents per barrel (+ 0.7%) at $92 per barrel. U.S. West Texas Intermediate (WTI) for October was up 62 cents to close out the trading session at $85.73 per barrel (+0.7%). For today supply fears outweighed potential demand destruction. In addition, a strong U.S. dollar and rising interest rates by the Fed weighed heavily on the market.Canadian markets and markets around the world were closed today in observance of the Queen’s funeral. More to report tomorrow – we predict more volatility! Have a great evening.<\/p>\n\n\n\n
Oil prices closed higher today as OPEC+ failed to hit its own production target by 3.53 million barrels per day for August.<\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-7445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n