Brent backs off three-week high, losses contained by North Sea strike

2018-07-31 14:24:29 GMT (Economies.com)
Brent backs off three-week high, losses contained by North Sea strike

Brent fell off three-week highs in American trade on profit-taking, after OPEC's production rose in July, while losses were curbed by a labor strike in some UK oil fields in the North Sea. 

 

As of 13:05 GMT, Brent fell to $75.20 a barrel from the opening of $75.42, with an intraday low at $75.05, and the highest since July 13 at $75.59. 

 

Brent closed up 1.6% yesterday, the fourth profit in the last five days, and the largest since July 18. 

 

Reuters reported initial data that showed OPEC's production rose by 70 thousand bpd to a total of 32.64 million bpd, the highest this year. 

 

Otherwise, a labor strike in the UK cut off production in three fields belonging to Total in the North Sea, with no talks taking place currently to end the strike quickly. 

 
 
 
  Symbol Last Change Chg.%
1.1301
-0.0096
0.8384%
1.2573
-0.0130
1.0265%
14.624
0.004
0.027%
51.154
-1.091
2.088%
60.16
-1.26
2.05%
1240.015
-8.025
0.643%
 
 
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