Oil holds gains ahead of US drilling data

2019-04-12 19:37:00 GMT (Economies.com)
Oil holds gains ahead of US drilling data

Oil prices rose during the day amid a large-scale decline of the dollar against most major currencies, as markets grow optimistic over OPEC output-cut deal, ahead of the release of US drilling data today.

 

OPEC's monthly report showed its oil production fell last month to 30.02 million bpd, the lowest level since February 2015.

 

Separately, the dollar index (against a number of major currencies) fell by 0.3% to 96.8 points at 16:40 GMT, reaching a high of 97.1 points and a low of 96.7 points.

 

Baker Hughes will unveil the oil and natural gas rigs count in America this week.

 

In terms of trading, West Texas crude rose by 0.9% to $64.1 a barrel by 16:23 GMT, the highest price at $64.6 and the lowest price at $63.6.

 

Brent climbed 1% to $71.5 a barrel, hitting a high of $71.7 and a low of $70.9.

 
 
 
  Symbol Last Change Chg.%
1.1221
-0.0052
0.4599%
1.2503
-0.0072
0.5722%
16.211
0.993
6.525%
55.748
-4.585
7.600%
62.83
1.06
1.72%
1425.365
9.870
0.697%
 
 
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