Crude prices declined to $79 a barrel today on disappointing economic data and predictions of low heating demand in the US.
For February delivery, US crude fell by 37¢ to $79.02 a barrel at 7:28am GMT, following this week’s trend of falling prices, according to Reuters.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
London Brent crude for the new front-month March contract fell by 67¢ to $77.90.
In a bid to curb speculation, the US Commodity Futures Trading Commission declared a proposal to cap the size of positions that dealers can hold, which will be applicable to the four most-traded energy contracts on the NYMEX and ICE exchanges.
The curbs may have a significant impact on oil prices.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
