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SunSirs: International Crude Oil Prices Continued to Rebound on August 11

August 12 2021 14:54:43     SunSirs (Selena)

On August 11, the international oil price rebounded continuously and rose for two consecutive days. The settlement price of the main contract in the U.S. WTI crude oil futures market was $69.25/ barrel, an increase of $0.96 or 1.40%, and the settlement price of the main contract in Brent crude oil futures market was $71.44/ barrel, an increase of $0.81 or 1.0%. Data released by the U.S. Energy Information Administration (EIA) on Wednesday showed that crude oil inventories fell last week, improved U.S. employment data and improved liquidity boosted fuel consumption, and the Biden government said it would not support U.S. oil companies to increase production, and supply expectations were good for oil prices.

 

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