{"id":79356,"date":"2023-11-01T10:33:28","date_gmt":"2023-11-01T14:33:28","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/oil-prices-see-slight-rise-ahead-of-key-central-bank-meetings\/"},"modified":"2023-11-01T10:33:30","modified_gmt":"2023-11-01T14:33:30","slug":"oil-prices-see-slight-rise-ahead-of-key-central-bank-meetings","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=79356","title":{"rendered":"Oil prices see slight rise ahead of key central bank meetings"},"content":{"rendered":"
\n

Oil prices saw a modest increase on Wednesday, in anticipation of important global central bank meetings, including a session by the US Federal Reserve. According to the American Petroleum Institute, US crude oil inventories experienced an increase of 1.3 million barrels last week. Meanwhile, lingered near a three-week low at $85 per barrel, and WTI crude was nearing a month’s low at approximately $81.<\/p>\n

October proved to be the worst month for Brent crude since August 2022, recording a 10% drop. On the other hand, Eurozone inflation decreased to a two-year low at 2.9% in October. The Bank of England is set to meet on Thursday.<\/p>\n

In China, factory activity contracted unexpectedly in October as indicated by the Caixin\/S&P Global manufacturing PMI, leading to concerns about the pace of economic recovery. Despite these concerns, Goldman Sachs maintains an optimistic outlook, forecasting Brent prices to reach $100 per barrel by June next year.<\/p>\n

The start of November saw Spot and Futures gold and LME prices dip due to a strong and disappointing Chinese manufacturing data. This marks the third consecutive monthly loss for copper. Contrarily, Chile reported an increase in copper output in September with a total production of 457,393 tons, marking a 4.1% YoY growth.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oil prices saw a modest increase on Wednesday, in anticipation of important global central bank meetings, including a session by the US Federal Reserve. According to the American Petroleum Institute, US crude oil inventories experienced an increase of 1.3 million barrels last week. Meanwhile, lingered near a three-week low at $85 per barrel, and WTI […]<\/p>\n","protected":false},"author":1,"featured_media":26725,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-79356","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nOil prices see slight rise ahead of key central bank meetings | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Oil prices saw a modest increase on Wednesday, in anticipation of important global central bank meetings, including a session by the US Federal Reserve.\" \/>\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=79356\" \/>\n<meta property=\"og:locale\" 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