Category: Commodities

Oil Futures Fall Back Sharply

Despite being buoyed upwards on the optimism of OPEC production cuts, oil futures slid back sharply – a move being attributed to a market getting vehemently ahead of itself. The sharp rise in oil seen earlier in Tuesdays trading session was reversed when sellers interpreted the rise of over 2% as a distinct opportunity, in … Continue reading Oil Futures Fall Back Sharply

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Brent Crude Oil Reaches 18-Month High

8Despite moderate scepticism amongst analysts, concerned about the capacity of OPEC to deliver on promised supply cuts, Brent crude, the global oil bench mark, rose 2.15% to $58.04 a barrel on London's ICE Futures exchange, marking a 18-month high. Fuelled by optimism on the strength of the OPEC deal designed to reduce global stockpiles, signed … Continue reading Brent Crude Oil Reaches 18-Month High