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[size=30]New tropical storm threatens black gold markets[/size]
07/10/2017 10:16 | Number of readings:
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[rtl]Trend Press / Agencies[/rtl]
[rtl]Oil markets were cautious as traders watched a tropical storm heading towards the Gulf of Mexico as Chinese markets remained closed for a week-long public holiday.[/rtl]
[rtl]But the prospect of an extension of oil production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and other producers outside Russia led by Russia helped to support prices, but the WTI fell 16 cents from the previous settlement to $ 50.63 a barrel.[/rtl]
[rtl]Brent crude fell 12 cents to $ 56.88 a barrel.[/rtl]
[rtl]Activity was limited due to the "Golden Week" holiday in China and the monitoring of the tropical storms Nite, which led to the closure of refineries and a halt to production on the Gulf of Mexico just weeks after the region was hit by a number of hurricanes.[/rtl]
[rtl]The agreement to cut oil production by 1.8 million barrels per day came into effect in January and is due to expire at the end of March 2018.[/rtl]
[rtl]http://aletejahtv.org/permalink/185280.html[/rtl]
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