According to Reuters, the global benchmark, Brent crude futures, yesterday hit a high of $48.81 per barrel, their highest since July 7, while the United States West Texas Intermediate crude reached $46.21 per barrel, its highest since July 15, before easing to $45.94 per barrel.
Wednesday 17 August 2016
CRUDE OIL PRICES HIT OVER 5-WEEK HIGHS, BRENT SELLS AT $48.81
The prices of crude oil in the international market yesterday reached their highest levels in more than five weeks due to heightened speculation that the Organisation of Petroleum Exporting Countries (OPEC) would embark on output cuts to prop up prices.
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