Oil is calm: Prices stabilise following wild market swings on both benchmarks

Nov 25, 2021 - City AM

 Oil prices remained stable on Thursday following wild swings on both major benchmarks over the past few months.

Brent Crude was down 0.35 per cent but remains trading at $81.90 per barrel, despite US-led commitments to flood the market with reserves.

WTI is also standing firm at $77.92 per barrel, a drop of only 0.47 per cent.

Oil prices have been difficult to forecast, with prices dropping and rising on a day-by-day basis amid macroeconomic drama such as soaring Covid cases...