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Home Steel News Global crude oil stock drops 8 million barrels, stimulating crude oil price to increase
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Global crude oil stock drops 8 million barrels, stimulating crude oil price to increase

5 Nov 2020 15:30 reported by Jordan Huang

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According to the market of crude oil in the world, the market was expected that the US’ election result might influence the demand for crude oil in the future.

By some of the views from market participants, if Donald Trump wined the election, the crude oil price would go up further.

On November 4th, the crude oil price was benefited by the sharp decline of crude oil inventory in the US, with around 800 million barrels’ decrease, which pushed the crude oil price for January in the Brent Crude faced US$41.23/barrel, increased by 3.8% from the previous trading day.

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Metal Price Index

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