Singapore - AFP
Oil prices rose in Asian markets Tuesday, as investors still rely on the ability of markets to absorb stocks and the decline in global supply.
The price of a barrel of light oil (light sweet infraction) July 19 delivery cents to $ 46.27 in electronic trade in the barrel of Brent Asaa.ama European benchmark delivery August / August, he won 22 cents to $ 48.51.
The member states of the Organization of "OPEC" and ten other countries have agreed to cut production until March / March 2018. But the markets have not issued any indications that this step will allow the absorption of the surplus in supply, which affects the prices.
Investors are awaiting weekly estimates of the Union's "American Petroleum Institute" about the size of crude inventories in the United States and Pat.
He said strategic expert "Xi-Trader" group Greg McKenna said "prices are determined by the data about the precautions that are the only elements that can prove or deny assertions that the OPEC market on the way back to balance."
The price of a barrel of oil lost last week, 3.8 percent of its value in New York, down by 11 percent since OPEC's summit at the end of May. These losses, especially related to unexpectedly rise to US oil stocks.