Skip to main content

Oil Price Hits Three-months High At $41.43

Oil prices rose one per cent yesterday with benchmark Brent prices hitting a three-month high on hopes for a coordinated approach by major producers to support prices.

Brent crude futures were trading at $41.43 a barrel at their highest since Dec. 9, up 59 cents on the day.

On Monday, the contract had climbed by 5.5 per cent in intra-day trading and it has now gained more than 50 per cent since this year low on Jan. 20.

U.S. West Texas Intermediate (WTI) futures were up 38 cents at $38.28 a barrel.

“The bullish sentiment continues to push prices up or the absence of negative news,” said Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt.

News of a meeting of Latin American crude producers set in Quito for Friday had boosted oil prices on Monday, and bullish sentiment swept over into yesterday’s session.

The members of the Organisation of Petroleum Exporting Countries (OPEC) and other producers in Russia are also due to meet for talks on March 20, according to the Nigerian petroleum minister, Dr. Ibe Kachukwu.

Kuwait’s oil minister said yesterday that his country’s participation in an output freeze would require all major oil producers, including Iran, to be on board.

“I’ll go full power if there’s no agreement. Every barrel I produce I’ll sell,” Anas al-Saleh told reporters in Kuwait City.

http://thenationonlineng.net/oil-price-hits-three-months-high-41-43/
Post a Comment

Popular posts from this blog

U.S. Military Helicopter Crashes In Iraq On Thursday, Killing 7 People On Board

One of the U.S. military helicopter in Iraq has crashed after hitting a power line in Iraq's western Anbar province, killing all seven personnel aboard.

According to a statement from Pentagon this morning, the officials said the crash of the HH-60 Pave Hawk helicopter occurred Thursday afternoon near the town of Qaim.

"All personnel aboard were killed in the crash," Brig. Gen. Jonathan P. Braga, director of operations, Combined Joint Task Force - Operation Inherent Resolve, said in a statement.

"This tragedy reminds us of the risks our men and women face every day in service of our nations," he said. "We are thinking of the loved ones of these service members today."

The statement further said;

Badoo Srine Discovered,Alaka Abayomi Of Alaka Petroleum Apprehended(Video)

The Nigerian police SARS, IRT and RRS, has arrested a popular independent oil marketer of Alaka petroleum Alhaji Abayomi Alaka . Following investigations of the recent killing of a family of five over the weekend , kudos to the gallant men of the Nigerian police

Wife Of Donald Trump Junior Files For Divorce

(Reuters) - The wife of Donald Trump Jr., the eldest son of U.S. President Donald Trump, has filed for divorce in New York, according to court records.

Vanessa Trump, a former model and actress, and Trump Jr. said in a joint statement on Thursday: "After 12 years of marriage, we have decided to go our separate ways."

The statement was provided by the Trump Organization, the president's business empire, which his son helps manage.


Further details were not immediately available on the uncontested divorce filing by Vanessa Trump in a New York state court. She and Trump Jr. have "enormous respect" for each other, according to the joint statement, which also asked for privacy.