CRUDE OIL UPDATE FOR TODAY

Oil prices climbed a little in Asia on Thursday morning as investors shrugged off data out of the U.S. that pointed to rising stockpiles of crude and focused instead on supply constraints, include OPEC cuts and sanctions to top producers.U.S.  were up 0.28% to $56.38 per barrel by 11:25 AM ET (04:25 AM GMT). International  rose 0.42% to $66.27 per barrel.All told, oil prices are up by as much as 27% from their lows in late December.In no small measure, the increases have been driven by the Organization of the Petroleum Exporting Countries (OPEC), which continues to stick to production cuts of around 1.2 million barrels per day (bpd). At the same time, sanctions against OPEC members Venezuela and Iran are also constraining the global supply.

c/w@7919099444

WWW.shreemcx.com

Leave a Reply

Your email address will not be published.