
Oil prices experienced fluctuations this week, driven by easing U.S. inflation and mixed market signals. Brent crude oil prices fell by $1.51 to $85.03 per barrel, while U.S. crude futures rose by $1 to $83.62 a barrel. Despite the rise in U.S. crude prices, overall crude prices posted their first weekly loss in more than a month, with WTI futures settling at $82.21 per barrel, down 41 cents (0.50%). The market saw increased net-length in WTI crude oil futures and options, with long-only positions rising by 175 and short-only positions falling by 3,548. Inventories fell, contributing to the price movements, and traders weighed inflation data and demand signals. Oil prices settled down after data showed weaker U.S. consumer sentiment.







Oil Prices Settle Down after Data Shows Weaker U.S. Consumer Sentiment https://t.co/tuJd9Qtw7L
Brent 12-month spread decreased -$0.07 (-1%) for the week ending July 12 6-month spread increased +$0.12 (+4%) into stronger backwardation Front-month price decreased -$1.51 (-2%) #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities #commoditiesmarket https://t.co/PuQtdMpFdu
Brent futures price fell -$1.51 (-2%) from $86.54 to $85.03 for the week ending July 12 Price is -$0.34 less than the 20-day average 12-month spread fell to +$0.12 more than its 20-day average on Friday #energy #NaturalGas #shale #fintwit #oilandgas #Commodities #ONGT #natgas https://t.co/eb0LCfxGzZ