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remarkable rise in world oil prices[/size]
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Twilight News
24 minutes ago
remarkable rise in world oil prices[/size]
Twilight News
24 minutes ago
Oil prices rose late last Friday by more than 2%, their highest level since late January after Saudi assurances about keeping supply cuts in 2019 and growing concern over the future of Iran's crude exports, and ended the week on gains by more From 6%.
Global Brent crude futures jumped to $ 1.54, or 2.2%, to settle at $ 70.45 a barrel, ending the week with gains of about 6.4%, the biggest weekly gain since July.
US benchmark WTI also recorded the biggest week of gains since July, rising 5.5% after ending Friday's session at $ 65.88 a barrel, up $ 1.58 or 2.5%.
Saudi Energy Minister Khalid al-Faleh's comments on supply restrictions in 2019 to reduce global oil stocks have led to higher oil prices.
It is noteworthy that OPEC and a group of non-member countries, led by Russia, began in January 2017 implementation of the agreement to cut production of 1.8 million barrels per day to get rid of excess supply.
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