Brent hits highest since 2015

Economies.com
2017-12-11 18:43PM UTC

US crude futures rose nearly 1% while Brent added 2% as the dollar index fell for the first time in five sessions, following a spate of data from the world's largest energy consumer, and after work was suspended in a major pipeline system in the North Sea.  

 

As of 07:21 GMT, US West Texas Intermediate rose 0.73% to $57.78 a barrel from the opening of $57.36, while Brent futures due on February 15 gained 1.89% to $64.60 a barrel from the opening of $63.40, as the dollar index shed 0.06% to 93.84 from the opening of 93.90. 

 

Earlier US data showed the JOLTS job openings fell to 6 million jobs from 6.09 million in September, compared to expectations of 6.03 million, while investors now await the Federal Reserve policy meeting tomorrow. 

 

 A major pipeline in the North sea was closed, stopping 400 thousand bpd from been shifted to near Edinburgh, buoying Brent futures sharply.  

 

Baker Hughes reported a rise of 2 in the US rig count to a total of 751 rigs, the highest since December 8. 

 

US output rose by 25 thousand bpd in the week ending December 1 to a total of 9.71 million bpd, the highest on record. 

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