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Oil price up 3% on Opec plan details, US-China trade hopes


  • Oil & Gas
  • Saturday, 19 Jan 2019

Futures were on track for a third straight week of gains, with Brent crude up $1.64 to $62.82 a barrel, or 2.7 percent, at 11:06 a.m. EST (1606) GMT. U.S. West Texas Intermediate (WTI) crude futures were up $1.70 to $53.77 a barrel, or 3.3 percent.

Futures were on track for a third straight week of gains, with Brent crude up $1.64 to $62.82 a barrel, or 2.7 percent, at 11:06 a.m. EST (1606) GMT. U.S. West Texas Intermediate (WTI) crude futures were up $1.70 to $53.77 a barrel, or 3.3 percent.

NEW YORK: Oil prices rallied about 3 percent on Friday, boosted after OPEC detailed specifics on its production-cut activity to reduce world supply, and on signals of progress in resolving the U.S.-China trade war.

Futures were on track for a third straight week of gains, with Brent crude up $1.64 to $62.82 a barrel, or 2.7 percent, at 11:06 a.m. EST (1606) GMT. U.S. West Texas Intermediate (WTI) crude futures were up $1.70 to $53.77 a barrel, or 3.3 percent.

Oil & Gas , Markets

   

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