Oil rockets from 12-year low on renewed talk of OPEC cut | Reuters:
"Global oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk.
Despite the strong daily gain, oil prices were poised to end the week down as much as 5 percent.
The United Arab Emirates' energy minister said the Organization of the Petroleum Exporting Countries was willing to cooperate on an output cut, the Wall Street Journal reported on Thursday after crude futures settled in U.S. trade."
'via Blog this'
No comments:
Post a Comment