{"id":23369,"date":"2023-09-30T05:00:41","date_gmt":"2023-09-30T05:00:41","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/oil-ends-lower-after-u-s-benchmark-briefly-climbs-above-95-a-barrel\/"},"modified":"2023-09-30T05:00:42","modified_gmt":"2023-09-30T05:00:42","slug":"oil-ends-lower-after-u-s-benchmark-briefly-climbs-above-95-a-barrel","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=23369","title":{"rendered":"Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002555443\" role=\"document\">\n<p>Oil futures ended sharply lower Thursday, giving up gains that had seen the U.S. benchmark trade above the $95-a-barrel threshold for the first time in a year as investors weighed tightening U.S. crude inventories.<\/p>\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      West Texas Intermediate crude for November delivery<br \/>\n        CL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209723049\/delayed\" class=\"negative\">-1.02%<\/bg-quote><\/p>\n<p>        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"negative\">-1.02%<\/bg-quote><\/p>\n<p>        CLX23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209727121\/delayed\" class=\"negative\">-1.02%<\/bg-quote><br \/>\n       fell $1.97, or 2.1%, to end at $91.71 a barrel on the New York Mercantile Exchange, after trading as high as $95.03.<\/p>\n<\/li>\n<li>\n      November Brent crude<br \/>\n        BRNX23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209705773\/delayed\" class=\"negative\">-0.04%<\/bg-quote><span>,<\/span><br \/>\n       the global benchmark, settled at $95.38 a barrel, down $1.17, or 1.2%, on ICE Futures Europe, after hitting a session high of $97.69.<\/p>\n<\/li>\n<li>\n      Back on Nymex, October gasoline<br \/>\n        RBV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/215376529\/delayed\" class=\"negative\">-2.76%<\/bg-quote><br \/>\n       dropped 3.6% to $2.505 a gallon, while October heating oil<br \/>\n        HOV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/215376448\/delayed\" class=\"positive\">+1.02%<\/bg-quote><br \/>\n       rose 0.1% to $3.318 a gallon.<\/p>\n<\/li>\n<li>\n      November natural gas<br \/>\n        NGX23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210194966\/delayed\" class=\"negative\">-0.51%<\/bg-quote><br \/>\n       rose 1.6% to $2.945 per million British thermal units.<\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>\u201cOil was ripe for a pullback. After coming a few dollars short of the $100 level, energy traders are quickly locking in profits given the turbulence happening in the bond market,\u201d said Edward Moya, senior market analyst at Oanda, in a note.<\/p>\n<div class=\"paywall\">\n<p>The yield on the 10-year Treasury note<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       traded near 3.70% in earlier activity before pulling back. A sharp rise in yields to 16-year highs is stirring fears over the economic outlook and sparking volatility across financial markets.<\/p>\n<p>\u201cCrude demand destruction will clearly happen globally if this bond market selloff extends,\u201d Moya said, while tight supplies otherwise continue to underpin a crude rally.<\/p>\n<p><strong>See: <\/strong>4 reasons oil prices are surging toward $100 a barrel<\/p>\n<p>The Energy Information Administration on Wednesday reported that crude stocks at the Cushing, Okla., delivery hub fell to under 22 million barrels. Analysts at Saxo Bank said that is close to operational minimums and lowest since the seasonal lows of 2014.<\/p>\n<p>\u201cMarket focus is shifting back to the tightening in the physical market, which outweighs a weakening risk appetite amid broader market jitters,\u201d said UBS analysts led by Henri Patricot.<\/p>\n<p>The inventories data energized a Wednesday rally that saw the U.S. benchmark log its highest close in nearly 13 months.<\/p>\n<p>The drop in U.S. inventories comes as Saudi Arabia and Russia have extended their production cuts until the end of the year.<\/p>\n<p>\u201cHeading into winter, worries about supply tightness may continue pushing prices north, but whether this will evolve into a long-lasting uptrend is questionable. The challenges facing China and Europe, the two largest oil consumers in the world behind the U.S., could further dent demand, something that may start being reflected in prices at some point in the future,\u201d said Charalampos Pissouros, senior investment analyst at XM.<\/p>\n<p>Meanwhile, the EIA on Thursday reported natural gas in storage rose by 90 billion cubic feet, or Bcf, last week. Analysts surveyed by S&amp;P Global Commodity Insights, on average, had expected an 88 Bcf injection.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/oil-futures-top-95-per-barrel-for-the-first-time-in-a-year-35c2bf6b?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil futures ended sharply lower Thursday, giving up gains that had seen the U.S. benchmark trade above the $95-a-barrel threshold for the first time in a year as investors weighed tightening U.S. crude inventories. Price action West Texas Intermediate crude for November delivery CL00, -1.02% CL.1, -1.02% CLX23, -1.02% fell $1.97, or 2.1%, to end<\/p>\n","protected":false},"author":1,"featured_media":14386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-23369","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Oil futures ended sharply lower Thursday, giving up gains that had seen the U.S. benchmark trade above the $95-a-barrel threshold for the first time in a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microloannexus.com\/?p=23369\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel | Micro Loan Nexus\" \/>\n<meta property=\"og:description\" content=\"Oil futures ended sharply lower Thursday, giving up gains that had seen the U.S. benchmark trade above the $95-a-barrel threshold for the first time in a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/microloannexus.com\/?p=23369\" \/>\n<meta property=\"og:site_name\" content=\"Micro Loan Nexus\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-30T05:00:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-30T05:00:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/1692947405_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/microloannexus.com\/?p=23369#article\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/?p=23369\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\"},\"headline\":\"Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel\",\"datePublished\":\"2023-09-30T05:00:41+00:00\",\"dateModified\":\"2023-09-30T05:00:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/microloannexus.com\/?p=23369\"},\"wordCount\":471,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/microloannexus.com\/?p=23369#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/microloannexus.com\/?p=23369\",\"url\":\"https:\/\/microloannexus.com\/?p=23369\",\"name\":\"Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel | Micro Loan Nexus\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/#website\"},\"datePublished\":\"2023-09-30T05:00:41+00:00\",\"dateModified\":\"2023-09-30T05:00:42+00:00\",\"description\":\"Oil futures ended sharply lower Thursday, giving up gains that had seen the U.S. benchmark trade above the $95-a-barrel threshold for the first time in a\",\"breadcrumb\":{\"@id\":\"https:\/\/microloannexus.com\/?p=23369#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/microloannexus.com\/?p=23369\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/microloannexus.com\/?p=23369#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/microloannexus.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/microloannexus.com\/#website\",\"url\":\"https:\/\/microloannexus.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/microloannexus.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/microloannexus.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/microloannexus.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/microloannexus.com\"],\"url\":\"https:\/\/microloannexus.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel | Micro Loan Nexus","description":"Oil futures ended sharply lower Thursday, giving up gains that had seen the U.S. benchmark trade above the $95-a-barrel threshold for the first time in a","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/microloannexus.com\/?p=23369","og_locale":"en_US","og_type":"article","og_title":"Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel | Micro Loan Nexus","og_description":"Oil futures ended sharply lower Thursday, giving up gains that had seen the U.S. benchmark trade above the $95-a-barrel threshold for the first time in a","og_url":"https:\/\/microloannexus.com\/?p=23369","og_site_name":"Micro Loan Nexus","article_published_time":"2023-09-30T05:00:41+00:00","article_modified_time":"2023-09-30T05:00:42+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/1692947405_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/microloannexus.com\/?p=23369#article","isPartOf":{"@id":"https:\/\/microloannexus.com\/?p=23369"},"author":{"name":"News Room","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a"},"headline":"Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel","datePublished":"2023-09-30T05:00:41+00:00","dateModified":"2023-09-30T05:00:42+00:00","mainEntityOfPage":{"@id":"https:\/\/microloannexus.com\/?p=23369"},"wordCount":471,"commentCount":0,"publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/microloannexus.com\/?p=23369#respond"]}]},{"@type":"WebPage","@id":"https:\/\/microloannexus.com\/?p=23369","url":"https:\/\/microloannexus.com\/?p=23369","name":"Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel | Micro Loan Nexus","isPartOf":{"@id":"https:\/\/microloannexus.com\/#website"},"datePublished":"2023-09-30T05:00:41+00:00","dateModified":"2023-09-30T05:00:42+00:00","description":"Oil futures ended sharply lower Thursday, giving up gains that had seen the U.S. benchmark trade above the $95-a-barrel threshold for the first time in a","breadcrumb":{"@id":"https:\/\/microloannexus.com\/?p=23369#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/microloannexus.com\/?p=23369"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/microloannexus.com\/?p=23369#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/microloannexus.com\/"},{"@type":"ListItem","position":2,"name":"Oil ends lower after U.S. benchmark briefly climbs above $95 a barrel"}]},{"@type":"WebSite","@id":"https:\/\/microloannexus.com\/#website","url":"https:\/\/microloannexus.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/microloannexus.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/microloannexus.com\/#organization","name":"Solutions For Real","url":"https:\/\/microloannexus.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/microloannexus.com"],"url":"https:\/\/microloannexus.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/23369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23369"}],"version-history":[{"count":1,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/23369\/revisions"}],"predecessor-version":[{"id":23370,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/23369\/revisions\/23370"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/media\/14386"}],"wp:attachment":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}