Brent stable below $89
05/09/2023
Argaam
Oil drilling rigs
Brent crude was steady just below $89 today, Sept.5, after rising over the past five days with gains of more than 5%.
The international benchmark was trading at $88.95 a barrel, at 08:05 am Makkah time. West Texas Intermediate (WTI) crude rose 0.48% to $85.96 a barrel.
Service activity in China grew at the slowest pace in eight months during August, as the Caixin/S&P Global Services Purchasing Managers' Index for the service sector declined to 51.8 points from 54.1 points recorded in July, a special survey showed.
Meanwhile, commodity trading company Trafigura expects oil prices to rise as interest rates and a lack of investment weigh on the market.
Market Indices
Dubai
5,897.57
(9.63)
(0.16 %)
Abu Dhabi
9,960.24
(33.00)
(0.33 %)
TASI
10,542.23
(47.72)
(0.45 %)
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(49.77)
(0.54 %)
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13.25
0.15 %
Muscat
7,828.06
39.92
0.51 %
Bahrain
1,898.90
(2.96)
(0.16 %)
Commodity Price
Brent Crude Oil
102.48
1.55
1.53%
Nymex
89.08
(1.16)
(1.29%)
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