View full page at energyexch.com

 

Oil prices climb as OPEC+ reassures markets, ECB cuts interest rate

From channelnewsasia.com

Oil prices rose on Friday, continuing to climb after OPEC+ members Saudi Arabia and Russia indicated readiness to pause or reverse output agreements and as an interest rate cut in Europe raised the prospect of a similar U.S. move. Brent crude futures rose 16 cents or 0.2 per cent to $80.03 per barrel and U.S. West Texas Intermediate crude futures rose 16 cents or 0.2 per cent to $75.71 as at 0007 GMT. Prices rallied on Thursday when Saudi Arabia and Russia tried to reassure markets on supply agreements. However, they are heading for a weekly loss after analysts saw Sunday's OPEC+ meeting as indicating rising supply ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis