34794
Oil’s Biggest Rally Since August
Energy

Oil’s Biggest Rally Since August

Oil rallied in its biggest two-day advance since August after a slump to a 12-year low prompted some investors to buy back record bearish bets. Brent for March settlement climbed as much as $2.11, or 7.2%, to $31.36 a barrel on the London-based ICE Futures Europe exchange. Prices are up 12% since Wednesday, Bloomberg reported.
West Texas Intermediate for March delivery gained as much as $1.79, or 6.1%, to $31.32 a barrel on the New York Mercantile Exchange and was at $31.21 at 2:14 p.m. in London.
The March contract has advanced 10% in two days, and the generic front-month futures has surged 18% since the February contract expired on Wednesday, the most since August.  Front-month futures have jumped more than 17 after sliding to the lowest since 2003 on Wednesday.

Short URL : http://goo.gl/8ppF7Y
  1. http://goo.gl/pBXDsQ
  • http://goo.gl/3jY19C
  • http://goo.gl/UmiVcp
  • http://goo.gl/CiDOyA
  • http://goo.gl/7qW2u2

You can also read ...

Shipments in the first two weeks of the month were 4.05 million bpd, the highest since November 2016.
Iraq exported oil at the fastest pace since late 2016 during...
Iran's June Onshore Oil Stocks Up 3.2m Barrels
Iran’s onshore oil stocks rose 3.2 million barrels in June...
Investment in new conventional capacity is set to plunge in 2018 to about one-third of the total.
As the world’s energy sector moves toward greater...
Oil Prices Fall on Rise in US Stocks
Oil prices fell on Wednesday after news of a rise in US crude...
India Faces Iran Dilemma
The US embargo on Iran's oil shipments has put Indian Prime...
Power Supply to Iraq Cut  Over Rising Domestic Demand
Energy Minister Reza Ardakanian said on Tuesday Iran has cut...
Petrochem Company Indigenizes Equipment
In spite of international restrictions on accessing cutting-...
Gas Consumption Rising
Iran’s daily gas consumption hit 521 million cubic meters on...

Trending

Googleplus