{"id":61341,"date":"2023-09-15T09:22:21","date_gmt":"2023-09-15T13:22:21","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/oil-futures-extend-push-above-90-a-barrel\/"},"modified":"2023-09-15T09:22:24","modified_gmt":"2023-09-15T13:22:24","slug":"oil-futures-extend-push-above-90-a-barrel","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=61341","title":{"rendered":"Oil futures extend push above $90 a barrel"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002507557\" role=\"document\">\n<p>Oil futures rose Friday, extending a push above the $90-a-barrel threshold, on continued worries over tight supplies.<\/p>\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      West Texas Intermediate crude<br \/>\n        CL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209723049\/delayed\" class=\"negative\">-0.38%<\/bg-quote><br \/>\n       for October delivery<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"negative\">-0.38%<\/bg-quote><\/p>\n<p>        CLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209726813\/delayed\" class=\"negative\">-0.38%<\/bg-quote><br \/>\n       rose 45 cents, or 0.5%, to $90.61 a barrel on the New York Mercantile Exchange, on track for a weekly jump of 3.6%.<\/p>\n<\/li>\n<li>\n      November Brent crude<br \/>\n        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"negative\">-0.46%<\/bg-quote><\/p>\n<p>        BRNX23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209705773\/delayed\" class=\"negative\">-0.46%<\/bg-quote><span>,<\/span><br \/>\n       the global benchmark, was up 44 cents, or 0.5%, at $94.14 a barrel on ICE Futures Europe, headed for an advance of 3.8% on the week.<\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>WTI settled Thursday at $90.16 a barrel on the New York Mercantile Exchange, the highest finish for a front-month contract since Nov. 7, according to Dow Jones Market Data. Brent saw its highest close since Nov. 15.<\/p>\n<div class=\"paywall\">\n<p>Tightening supplies have propelled a summer rally for crude. A 1 million-barrel-a-day production cut implemented by Saudi Arabia in July and recently extended through the end of the year, alongside with a supply cut from Russia, have solidified expectations for a growing supply deficit heading into the fourth quarter.<\/p>\n<p>\u201cThe supply deficit that is likely to characterise the oil market until the end of the year should support oil prices at high levels. Concerns about demand in a cooling global economy, however, argue against a further rally,\u201d said Barbara Lambrecht, commodity analyst at Commerzbank, in a note.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/oil-futures-extend-push-above-90-a-barrel-489f67ff?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil futures rose Friday, extending a push above the $90-a-barrel threshold, on continued worries over tight supplies. Price action West Texas Intermediate crude CL00, -0.38% for October delivery CL.1, -0.38% CLV23, -0.38% rose 45 cents, or 0.5%, to $90.61 a barrel on the New York Mercantile Exchange, on track for a weekly jump of 3.6%. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":61342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-61341","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oil futures extend push above $90 a barrel | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Oil futures rose Friday, extending a push above the $90-a-barrel threshold, on continued worries over tight supplies.Price action West Texas Intermediate\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=61341\" \/>\n<meta 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