Oil steady as geopolitical risks offset by OPEC+ supply plans | Reuters
Oil prices were steady on Monday, with Eastern Europe and Middle East political issues offsetting expectations that major producers will release more supply to a thirsty market.
Brent crude was up 91 cents, or 1%, to $90.94 a barrel by 1500 GMT. The front-month contract for March delivery expires later in the day.
However the most-active Brent contract, for April delivery , was unchanged at $88.53. U.S. West Texas Intermediate crude rose 7 cents, or 0.1%, to $86.89 a barrel.
The benchmarks on Friday recorded their highest levels since October 2014 at $91.70 and $88.84 respectively and their sixth straight weekly gain. They are on track for a monthly gain of about 17%, the most since last February.
No comments:
Post a Comment