Crude futures rangebound amid Iran sanction talks, IEA report; Brent at $60.31/b

S&P Global Platts | Sep 13, 2019 at 11:53 AM
  • Crude oil futures remained rangebound Friday in mid-morning European trade, as the market digests the possibility of sanction relief on Iran and the International Energy Agency’s bearish supply and demand report, implying a supply glut in early 2020.
  • Elsewhere, eyes will be fixed upon the upcoming US Federal Reserve board’s Federal Open Market Committee meeting next week.
  • However, with the olive branches extended between US and China, as well as positive news on US CPI and headline inflation, the pressure is on the Fed to meet interest rate cut expectations.