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OIL HITS 2019 HIGHS ON OPEC CUTS U.S SANCTIONS BY COMMODITYPROFITPLUS.COM

Visit Us-: http://www.commodityprofitplus.com/ Call &Whatsapp-:9760684329 By Henning Gloystein SINGAPORE (Reuters) - Brent crude oil prices hit 2019 highs above $65 per barrel on Friday, spurred by U.S. sanctions against Venezuela and Iran as well as OPEC-led supply cuts. Brent rose as high as $65.10, pushing past the $65 mark for the first time this year, before edging back to $64.97 a barrel by 0450 GMT. That was still 0.6 percent above the last close. The international benchmark for oil prices is at a near 3-month high and set for a 4.6 percent gain for the week. U.S. West Texas Intermediate (WTI) crude futures were at $54.70 per barrel, up 29 cents, or 0.6 percent, from their last settlement. The Organization of the Petroleum Exporting Countries (OPEC) and some non-affiliated suppliers including Russia are withholding supply in order to tighten the market and prop up prices. The producer group known as OPEC+ has agreed to cut crude output by a joint 1.2 million barre

Oil prices rise on OPEC output cuts, as U.S. sanctions bite by commodityprofitplus.com

Visit Us-: http://www.commodityprofitplus.com/ Call & Whatsapp-:9760684329 By Henning Gloystein SINGAPORE (Reuters) - Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although analysts expect surging U.S. production and concerns over economic growth to keep markets in check. U.S. West Texas Intermediate (WTI) crude oil futures were at $52.78 per barrel at 0329 GMT, up 37 cents, or 0.7 percent, from their last close. The ongoing closure of parts of the Keystone pipeline that brings Canadian oil into the United States also helped prop up WTI, traders said. International Brent Crude futures were up 50 cents, or 0.8 percent, at $62.01 per barrel. Analysts said markets are tightening amid voluntary production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and because of U.S. sanctions on Venezuela and Iran.