Oil futures finished a bit higher on Thursday after posting two consecutive session declines. The oil market’s “recent collapse suggests not only has the market taken out the risk of a loss of supply from the Israel-Hamas conflict, but from any other conflict in the universe,” said Phil Flynn, senior market analyst at The Price Futures Group. “It is also signaling a potential global recession that despite some real demand concerns, has not happened yet.” December West Texas Intermediate crude
CLZ23,
edged up by 41 cents, or 0.5%, to settle at $75.74 a barrel on the New York Mercantile Exchange. It settled Wednesday at the lowest front-month contract finish since July 17.
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