Oil prices rose for the day despite mixed signals from traders, with West Texas Intermediate (WTI) settling above $68 a barrel and Brent around $72. Morgan Stanley predicts a “sizeable surplus” in the market, leading to cuts in price forecasts. The uncertainty surrounding Middle Eastern risks weighed on trading, causing oil prices to swing wildly throughout the session.
Source: https://www.bloomberg.com/news/articles/2024-11-12/latest-oil-market-news-and-analysis-for-november-13