Key Points
Brent crude futures rose 89 cents, or 1.1%, to $85.52 a barrel by 0324 GMT, while US West Texas Intermediate crude futures advanced 91 cents, also 1.1%, to $81.35 a barrel...
Oil gained more than 1 per cent on Thursday to snap its three-day decline, as risk appetite returned to financial markets after the US Federal Reserve kept benchmark interest rates on hold...
"It is likely that the Fed will once again pause in December, keeping the door open for further hikes if necessary...This could potentially stabilize the risk-off movements experienced over the past few months," Jon Maier, chief investment officer at Global X ETFs, said in a note...
Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), produced around 2.5 million barrels per day of crude in 2022, according to US energy data...
JP Morgan analysts estimated global oil demand averaged 102.1 million barrels-per-day (bpd) in October, about 100,000 bpd below their previous projection for the month...
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