27 July 2021
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West Texas Crude Oil Futures It closed on Monday (July 26), down 16 cents as investors feared oil demand would be affected by the coronavirus pandemic. including the floods in China
West Texas Crude Oil Contract Delivered in Aug. Trading on the Nymex was down 16 cents at $71.91 a barrel. Brent crude oil contract September delivery was up 40 cents to close at $74.50 a barrel.
The move in oil prices today contrasted with Friday (July 23), when oil prices closed up on the back of expectations that the market will continue to face tight oil supplies until the end of the year. this Even the Petroleum Exporting Countries (OPEC) and its allies or OPEC Plus The resolution was to increase oil production by 400,000 barrels per day from August to December.
Investors are also keeping an eye on the Federal Reserve’s monetary policy committee. (FOMC) meeting on monetary policy and announce interest rate resolution on 27-28 July.
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