Oil prices strengthened in today’s trading as the market assessed the prospects for US-Iran negotiations on the back of expectations for the release of official US inventory data.
Brent crude oil futures for next April delivery rose 1.4%, or the equivalent of 96 cents, to $69.76 per barrel.
Nymex crude oil futures for next March delivery rose 1.45%, or 92 cents, to $64.89 per barrel as of 1:11 p.m. Mecca time.
american stocks
US President Donald Trump has announced that he is considering sending a second aircraft carrier to the Middle East as Washington and Tehran prepare for renewed negotiations.
Estimates from the American Petroleum Institute show U.S. crude oil inventories rose by 13.4 million barrels in the week ending Feb. 6, with official data expected to be released by the Energy Information Administration later today.
Oil prices intensified in today’s trading as the market assessed the prospects for US-Iran negotiations on the back of expectations for the release of official US inventory data.
Brent crude oil futures for April delivery rose 1.4%, or the equivalent of 96 cents, to $69.76 a barrel.
Meanwhile, as of 1:11 p.m. Mecca time, WTI crude oil futures for March delivery rose 1.45%, or 92 cents, to $64.89 per barrel.
us stock
US President Donald Trump has announced that he is considering sending a second aircraft carrier to the Middle East as Washington and Tehran prepare to renegotiate negotiations.
Estimates from the American Petroleum Institute, with official data expected to be released by the Energy Information Administration later today, show U.S. crude oil inventories will increase by 13.4 million barrels in the week ending February 6.
