Brent Crude: Price briefly rises above $95 Following Saudi Energy Minister Comments — Market Talk

WORLD, Sept. 19 – Global Oil prices briefly rise above $95 a barrel after comments on demand from Saudi Arabia’s energy minister.

Brent crude oil rose as high as $95.14 a barrel in Asian trading but pared gains and was last up 0.6% at $94.97. The international oil benchmark hasn’t closed above $95 a barrel since November 2022.

WTI meanwhile gains 0.7% and increase to $91.25 a barrel. Saudi Arabia’s energy minister said the “jury is still out” on Chinese oil demand. While seemingly a bearish comment on demand, it has been interpreted as an indication that the Gulf kingdom anticipates leaving its 1 million barrel-a-day supply cut in place into next year, analysts at ANZ say in a note.