The crude futures have been choppy all week and by Friday morning we saw levels largely trading around the $76-77/bbl handles.
Brent prices sank to their lowest since June on Tuesday after being sold off to $73.24/bbl.
With the US Federal Reserve signalling interest rate cuts next year despite continuing to hold rates at a 22-year high, Brent prices found support again. Prices were also supported by a second consecutive EIA-announced crude oil draw of over 4.2million barrels alongside a revision of the IEA’s oil demand growth forecast from 930 kilo barrels per day to 1.1 million barrels per day.
