Oil Futures Climb on the Last Trading Day of 2024

As the year 2024 concluded, oil futures experienced an upward trend on Tuesday, marking a significant moment in the market. The landscape ahead is riddled with uncertainties, ranging from potential oversupply issues to geopolitical tensions and the anticipated shifts in oil policies under the new Trump administration.

Price Movements in Detail

West Texas Intermediate (WTI) for February's settlements witnessed a 1.10% increase, reaching $71.76 per barrel by 11:22 am ET. Similarly, Brent's deliveries for the same month saw a 0.97% rise, settling at $74.69 per barrel.