Energy Preview: WTI Crude Lingers Near $90 Mark In Asia

2 Nov 2022 , 08:58 AM

Crude oil futures jumped on good demand hopes. Oil giant Saudi Aramco on Tuesday reported a $42.4 billion profit in the third quarter of this year, up 39% on year buoyed by higher global energy prices. Aramcos long-term view is that oil demand will likely continue to grow for the rest of the decade, as will the worlds need for more affordable, reliable, and sustainable energy. Aramco intends to meet this growing demand by capturing unique growth opportunities and expanding its Maximum Sustainable Capacity (MSC), while enhancing integration of its Upstream and Downstream businesses and growing its liquids-to-chemicals capabilities.The WTI Crude oil futures are currently quoting at $89.68 per barrel, up 1.50% on the day. Powered by Commodity Insights