U.S. crude oil sees increase of USD1.71, Brent crude experiences rise of USD1.71

(MENAFN) The commodity market witnessed notable shifts on Monday, with benchmark U.S. crude oil for December delivery experiencing a noteworthy increase of USD1.71, reaching USD77.60 per barrel. Similarly, Brent crude for January delivery saw a parallel rise of USD1.71, reaching USD82.32 per barrel. The energy sector further displayed movements as wholesale gasoline for December delivery climbed by 5 cents, settling at USD2.23 per gallon, while December heating oil experienced an 8-cent increase, reaching USD2.85 per gallon. In contrast, December natural gas declined by 8 cents to USD2.88 per 1,000 cubic feet.

Precious metals exhibited mixed trends, as gold for December delivery decreased by USD4.40 to USD1,980.30 per ounce. Simultaneously, silver for December delivery saw a decline of 24 cents, closing at USD23.61 per ounce, while December copper demonstrated an upward trajectory, rising by 7 cents to USD3.81 per pound.

Currency markets also played a role in the day's financial narrative, with the dollar experiencing a decrease against the Japanese yen, falling to 148.32 yen from 149.66 yen. Conversely, the euro strengthened, rising to USD1.0946 from USD1.0899.

These market fluctuations underscore the complex interplay of factors influencing commodity prices, from geopolitical events to supply and demand dynamics, shaping the broader economic landscape.


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