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On Monday, the official Saudi news agency quoted Saudi Energy Minister Prince Abdulaziz bin Salman as telling Bloomberg that OPEC + has the means and flexibility to address the challenges, including reducing production. .
it’s over Brent crude oil contracts At the closest expiration of the trading session, it rose $ 3.74, or 3.9 percent, to register at the close of $ 100.22 a barrel.
US West Texas Intermediate crude contracts rose $ 3.38, or 3.7 percent, to stand at $ 93.74 a barrel.
Brent had the highest liquidation price since August 2, while US crude oil had the strongest liquidation level since August 11.
Bob Younger, director of energy futures at Mizuho, said: Supplies of Iranian crude resume Recession fears, coupled with subsequent weekly increases in the U.S. crude oil storage center, a drop in gasoline demand and the approaching refinery maintenance season, are factors that have pushed prices higher in recent weeks.
But OPEC sources told Reuters that production cuts from … OPEC + Alliance It may not be forthcoming and is likely to coincide with Iran’s return to oil markets if Tehran concludes a nuclear deal with the West.
Highlighting scarce supplies, the latest weekly reports for US crude oil inventories are expected to show a decline of 900,000 barrels last week.
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On Monday, the formal Saudi information agency quoted Saudi Strength Minister Prince Abdulaziz bin Salman as telling Bloomberg that OPEC + has the usually means and versatility to tackle the problems, like minimizing production. .
it is really more than Brent crude oil contracts At the closest expiration of the investing session, it rose $ 3.74, or 3.9 %, to sign up at the close of $ 100.22 a barrel.
US West Texas Intermediate crude contracts rose $ 3.38, or 3.7 percent, to stand at $ 93.74 a barrel.
Brent had the greatest liquidation rate since August 2, although US crude oil had the strongest liquidation degree considering that August 11.
Bob Young, director of strength futures at Mizuho, said: Supplies of Iranian crude resume Economic downturn fears, coupled with subsequent weekly improves in the U.S. crude oil storage heart, a fall in gasoline desire and the approaching refinery upkeep period, are components that have pushed selling prices higher in recent months.
But OPEC sources instructed Reuters that creation cuts from … OPEC + Alliance It may well not be forthcoming and is probably to coincide with Iran’s return to oil marketplaces if Tehran concludes a nuclear deal with the West.
Highlighting scarce supplies, the hottest weekly experiences for US crude oil inventories are predicted to present a drop of 900,000 barrels very last 7 days.
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