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Crude oil futures end higher on Monday

12 Dec 2023 Evaluate

Crude oil futures ended higher on Monday as the U.S. announced plans to refill its Strategic Petroleum Reserve (SPR) through to May, signaling it will buy 3 million barrels of crude oil until March. However, the upside was just marginal due to continued uncertainty about the outlook for energy demand, and on worries the output cuts by OPEC+ may not be sufficient to restrict inventories any significantly low.

Benchmark crude oil futures for January delivery added $0.09 or about 0.13 percent to settle at $71.32 a barrel on the New York Mercantile Exchange. Brent crude for February delivery surged $0.19 or about 0.25 percent to settle at $76.03 a barrel on London's Intercontinental Exchange. 


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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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