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OIL PRICE: NEAR $72 YET

Brent WTI oil prices April, 14 - 18, 2019

Brent crude futures settled at $71.97 a barrel, up 35 cents from their last close and near Wednesday's five-month high of $72.27. Brent saw a weekly gain of 0.6 percent, marking the fourth consecutive weekly rise for the international benchmark.

U.S. West Texas Intermediate (WTI) crude futures settled at $64.00 a barrel, up 24.00 cents. U.S. futures gained just under 0.2 percent for the week, their seventh weekly gain in a row.

Oil has been driven up this year by an agreement reached by the Organization of the Petroleum Exporting Countries and its allies, including Russia, to limit their oil output by 1.2 million bpd.

Vladimir Vinogradov's picture

Thank Vladimir for the Post!

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Matt Chester's picture
Matt Chester on Apr 19, 2019 9:15 pm GMT

As oil prices go up, I feel like we're waiting for another angry Tweet from the President to OPEC-- I feel that frequency of such tweets could be a new market indicator!

Vladimir Vinogradov's picture
Vladimir Vinogradov on Apr 22, 2019 8:37 am GMT

:)))

OPEC has good experts. They study the market very carefully. Public statements are a little advertising. 

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