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Black gold prices are falling sharply after rising $ 70 a barrel

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rocky
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Black gold prices are falling sharply after rising $ 70 a barrel

Post by rocky on Wed 17 Jan 2018, 2:55 am

[size=30]Black gold prices are falling sharply after rising $ 70 a barrel[/size]
17/01/2018 10:31 | Number of readings: 74
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[rtl]Trend Press / Agencies[/rtl]
 
 
[rtl]Oil prices fell from a three-year high as investors took profit-taking sales but strong demand supports prices near $ 70 a barrel, a level the market has not seen since its decline in 2014 .[/rtl]
 
[rtl]Brent crude futures closed at $ 1.11, or 1.6 percent, to settle at $ 69.15 a barrel after recording a lower level of $ 68.83 .[/rtl]
 
[rtl]Global benchmark crude jumped last Monday to a peak of $ 70.37 a barrel, its highest level since December 2014 .[/rtl]
 
[rtl]WTI futures fell 57 cents, or 0.9 percent, to close at 63.73 dollars a barrel. Earlier in the session, US benchmark crude was at $ 64.89, its highest level since December 2014 .[/rtl]
 
[rtl]US oil production fell from 9.8 million bpd in December to 9.5 million bpd now. But most analysts still expect it to soon cross the 10 million bpd barrier .[/rtl]
 
[rtl]The US Energy Information Administration said US oil production for February was expected to rise by 111,000 bpd to 6.55 million bpd.[/rtl]




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