UAE’s Energy Minister: Oil is in a 'decline mode’

Market news

3 November 2022

UAE’s Energy Minister: Oil is in a 'decline mode’

UAE Energy Minister Suhail Mohamed Al Mazrouei said on Thursday, oil is in a 'decline mode’.

He added that “demand is to fall over time.”

Market reaction

WTI is witnessing fresh selling pressure on the latest comments by the UAE Energy Minister. The US oil faced rejection once again at the $89 mark, turning south to near $88.65, as of writing. The black gold has erased its early gains.

Currencies. Daily history for Thursday, November 3, 2022

Commodities. Daily history for Wednesday, November 2, 2022

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