Oil edges higher as investors sceptical about effectiveness of joint reserve release

Irish Times | Nov 24, 2021 at 9:25 AM
  • US West Texas Intermediate (WTI) crude futures increased 20 cents, or 0.3 per cent, to $78.70 a barrel, following a 2.3 per cent gain in the previous day.
  • The Nikkei newspaper reported Japan will hold auctions for about 4.2 million barrels of oil out of its national stockpile by the end of this year.
  • All eyes are on how the Organisation of the Petroleum Exporting Countries (Opec), Russia and their allies, together called Opec+, will react to the joint reserve release when they meet on December 2nd to discuss policy.