Crude oil prices refer to the cost of purchasing crude oil, a key global commodity, which fluctuates based on supply and demand dynamics, geopolitical events, production levels, and market speculation. These prices are a crucial indicator of economic health and impact various industries, from transportation to manufacturing. Crude oil is traded primarily in two benchmarks: West Texas Intermediate (WTI) and Brent Crude. Factors influencing crude oil prices include global oil production (e.g., OPEC+ decisions), geopolitical tensions in oil-producing regions, and macroeconomic trends. Price fluctuations are closely watched by investors, governments, and industries as they can influence inflation, energy costs, and global economic stability.
European stock markets opened lower on Friday, with investor sentiment cautious ahead of key economic data and geopolitical developments. The focus is shifting to the upcoming release of November’s euro zone inflation data, which could provide significant insight into the region’s economic outlook and influence the European Central Bank (ECB) policy meeting scheduled for December 12.
