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The rise in oil prices is supported by a cut production agreement and awaiting US data
Oil futures rose on Tuesday, boosted by a cut production agreement and anticipation of preliminary US crude stocks data released later in the day.
The Opec + alliance of OPEC members and other independents extended the production cut-off agreement until the end of March 2020, after it was due to expire on June 30.
By 5:50 GMT, the benchmark Brent crude for September delivery rose 0.17 percent, or 11 cents, to $ 66.58 a barrel.
US crude futures for the WTI increased 0.02 percent to $ 59.59 a barrel.
However, prices are under pressure from weak Chinese data released on Monday, showing a slowing domestic economic growth in the second quarter of 2019, to 6.2 percent from 6.4 percent in the first quarter.
http://wattaennews.net/archives/41869
- 16 July 2019
Oil futures rose on Tuesday, boosted by a cut production agreement and anticipation of preliminary US crude stocks data released later in the day.
The Opec + alliance of OPEC members and other independents extended the production cut-off agreement until the end of March 2020, after it was due to expire on June 30.
By 5:50 GMT, the benchmark Brent crude for September delivery rose 0.17 percent, or 11 cents, to $ 66.58 a barrel.
US crude futures for the WTI increased 0.02 percent to $ 59.59 a barrel.
However, prices are under pressure from weak Chinese data released on Monday, showing a slowing domestic economic growth in the second quarter of 2019, to 6.2 percent from 6.4 percent in the first quarter.
http://wattaennews.net/archives/41869
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