Futures Movers: Oil prices pull back from 2023 highs


Oil futures edged lower early Wednesday, pulling back a day after ending at 2023 highs following the extension of supply cuts by Saudi Arabia and Russia.

Price action

Market drivers

Oil jumped Tuesday after Saudi Arabia announced it would extend a voluntary production cut of 1 million barrels a day through the end of the year, alongside the extension of a supply cut by Russia. WTI and Brent closed Tuesday at their highest since November.


This article was originally published by Marketwatch.com. Read the original article here.

Previous articleRoku to cut 10% of its staff
Next article: Core & Main misses profit expectations, sees ‘pockets of softness’ in new projects


Please enter your comment!
Please enter your name here