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Business Crude Oil Price Hits $53 Per Barrel
Oil prices hit a two-month high on Monday lifted by a tightening US crude market and the threat of sanctions against OPEC-member Venezuela. Brent crude futures were 52.90 dollars per barrel earlier in the day, their highest since May 25. U.S. West Texas Intermediate (WTI) futures were up 16...- ProfRem
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Business Oil Prices Soar To $58, Highest Since 2015
Oil prices spike over four per cent to their highest level since 2015 early on Monday after OPEC and other producers over the weekend in Vienna reached first output cut deal since 2001 . They jointly reduced output in order to rein in oversupply and prop up the market. Brent sweet crude...- ProfRem
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Business Crude Oil Prices Bounce as Nigeria's Barkindo Promises Cut in Output
Oil rose more than 1 percent on Monday, boosted by a commitment from OPEC to stick to a deal to cut output, but prices remained more than $7 below last month's high due to persistent doubts over the feasibility of the group's plan. Brent crude LCOc1 traded at $46.20 per barrel at 1157 GMT, up...- ProfRem
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