OIL PRICES ABOVE $40
Oil prices fell on Tuesday on weak Chinese trading data, but Brent remained over $40 a barrel after jumping to 2016 highs the previous day when producers announced talks to support the market and investors opened new bullish bets.
Brent crude futures LOCc1 managed to defend $40 per barrel, standing at $40.43 at 0742 GMT, down 41 cents from their last settlement. On Monday, the contract had surged over 5.5 percent in intra-day trading and has gained almost 50 percent from its 2016 lows on Jan. 20.
U.S. West Texas Intermediate (WTI) futures were at $37.51 a barrel, down 39 cents from their last close but over…
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.