ADVERTISEMENT

Oil hits highest in nearly 2 weeks

Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and as worries grew over tensions in the Middle East.

ADVERTISEMENT

Israeli Prime Minister Benjamin Netanyahu said on Feb. 18, that Israel could act against Iran itself, not just its allies in the Middle East, after border incidents in Syria brought the Middle East foes closer to direct confrontation.

U.S. West Texas Intermediate crude for March delivery was up 73 cents, or 1.2 per cent at 62.41 dollars a barrel by 0600 GMT, after earlier touching its highest since Feb. 7.

ADVERTISEMENT

Brent sweet crude was up 52 cents, or 0.8 per cent at 65.36 dollars, after rising more than three per cent last week.

Trading is expected to be slower than usual due to market holidays in the U.S. as well as Greater China.

Surging U.S. production is offsetting efforts by the OPEC and some other producers, including Russia to curb production by 1.8 million barrels per day (bpd) until the end of 2018.

Money managers slashed their bullish wagers on ICE Brent crude oil futures by the most in nearly eight months in the week to Feb. 13, data showed. (Reuters /NAN)


Share this article

HOW I BECAME FREE OF HIGH BLOOD PRESSURE

DIABETES TOTAL CURE

EKWENSI helps to revive and rejuvenate the Pancreas which is the root causes of Diabetes, which results to frequent urination and loss of weight, tingling of the feet’s and many.

This drug cures diabetes completely within 2months of frequent usage. Call Sam on 08124139999 or 08077776226



BREAKTHROUGH NATURAL CURE FOR PROSTRATE ISSUES IN JUST 15 DAYS!!!

You Can Prevent PROSTATE CANCER!!!

Your PROSTATE ENLARGEMENT Is REVERSIBLE

Don't Let It Threaten You!

To SHRINK And NORMALIZE Your PROSTATE Within 15 Days Without Surgery Or Chemical Drugs, Click Here!!!

Join us on


Share your story with us: 08189301900 (Whatsapp and SMS only) Email: dtonline@dailytrust.com

Complain about a story or Report an error and/or correction: +2348189301900

DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organizations stand or views on issues.