Oil prices stable as OPEC says market is rebalancing

Tue 10 October 2017 05:11 GMT | 09:11 Local Time

Text size: bigger smaller
W1siziisijiwmtcvmtavmtavmdkvmtgvmzuvmtfjnwqzytytmzq5oc00m2q3lwe2otytmdjmyju1odc2zdhll29pbc5qcgcixsxbinailcj0ahvtyiisijm2mhgynzajil1d?sha=ae037fb8011a9611

U.S. West Texas Intermediate (WTI) crude futures were trading at $49.65 per barrel at 0327 GMT, up 7 cents, or 0.14 percent, from their last close.

Oil prices were steady on Tuesday as OPEC said there were clear signs the market was rebalancing and as U.S. production remained offline following Hurricane Nate, APA reports quoting Reuters.
 
U.S. West Texas Intermediate (WTI) crude futures were trading at $49.65 per barrel at 0327 GMT, up 7 cents, or 0.14 percent, from their last close.
 
Brent crude futures, the international benchmark for oil prices, were up 6 cents, or 0.1 percent, at $55.85 a barrel.
 
Traders said that oil prices were supported as the Organization of the Petroleum Exporting Countries (OPEC) said oil markets were rebalancing fast after years of oversupply.

News.Az

Printer

Commentary

Most read articles

More from Economy

In The Region

Editor Picks

Azerbaijan Cuisine

Explore the food of Azerbaijan - from sherbet to succulent kebab, from baklava to fragrant pilaff

Follow us

Find us on Facebook