Publishing Date: Mon, 15 Aug 2016 07:25:46 | Views: 57
Oil prices have tended towards the rise in early trade on Monday, driven by optimism freeze OPEC production in a market suffering from oversupply of oil.
Futures contracts rose for Brent 37 cents, or about 0.77% to $ 47.33 a barrel at 9:19 pm Baghdad time on the last level at closing and more than ten percent above the last close in July.
The futures contract rose WTI US mediator 40 cents or 0.90% to $ 44.89 a barrel on the latest closing them.
He said ANZ Bank, said that oil rose another with the accelerated pace of the possibility of freezing speculation OPEC production after Saudi Arabia indicated its willingness to discuss stabilizing markets during the informal talks of OPEC next month.
Oil prices rose in spite of a further strong rise in drilling activity in the United States when Baker Hughes data showed an increase in the number of drilling rigs operating in the United States by 15 last week to 396.