Oil prices were mostly flat week over week edging higher today in a volatile session after both contracts were initially down over $1. Lower trading volumes also contributed to today\u2019s volatility. Prices were supported by the prospect of lower Russian exports but pressured by rising inventories and concerns over global economic activity. The dollar index has been stronger, gaining for four weeks as interest ratesincrease. “While\u2026 curtailed Russian supply are certainly formidable bullish considerations, price action across the complex this month has sent off a powerful message that rising US interest rates that werefurther reinforced by Fed minutes, will be a major impediment to sustainable oil price strength,” said Jim Ritterbusch of consultancy Ritterbusch and associates. WTI traded up $.93 or 1.2% to close at $76.32. Brent traded up $.95 or 1.2% to close at $83.16.<\/p>\n\n\n\n
Oil prices were mostly flat week over week edging higher today in a volatile session after both contracts were initially down over $1.<\/p>\n","protected":false},"author":2,"featured_media":8776,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-8839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n