Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 18/11/2019 10:44 
15.04.2019 11:35 News >> Brent Oil Up To $71.49 At Week Beginning April 15

Brent Oil Up To $71.49 At Week Beginning April 15

Crude prices show slight fall at beginning of week with low global oil demand.

International benchmark Brent crude saw a slight decrease to $71.49 a barrel at 0610 GMT while American benchmark West Texas Intermediate (WTI) registered at $63.58, according to official figures on Monday.

The price of Brent crude oil traded at $71.73 a barrel at 1217 GMT on Friday, while American benchmark West Texas Intermediate (WTI) was $64.62 per barrel at the same time.

The Organization of Petroleum Exporting Countries' (OPEC) and Russia led non-OPEC countries' cuts, along with sanctions on Iran and Venezuela, led to higher oil prices of $70-$72 per barrel last week.

The number of oil rigs in the U.S. increased to 833 for week ending April 12, up by 2 over the previous week, according to data released by oilfield services company Baker Hughes on Friday.

Despite the increase in the oil rig count, geopolitical risks in Libya and sanctions on Iran and Venezuela countered more crude output and Brent closed at $71.65 on Friday while WTI finished the day at $63.76 a barrel.

Tensions have escalated between the UN-backed Government of National Accord and east Libya-based commander Khalifa Haftar, posing risks for the secure supply of crude from the OPEC nation.

Crude prices have been on the rise since the beginning of 2019 with falling global oil supply.

Due to U.S. sanctions on Iran and Venezuela, both countries' oil production levels are in decline, and are expected to account for a total of 1.76 million barrels per day (bpd) in lost output this year.

Nonetheless, the supply cut deal of Saudi Arabia-led OPEC and Russia led non-OPEC continues its upward pressure on crude prices. -



        Latest News
Turkey's Borsa Istanbul Up At Monday's Open 5 minutes ago...
BIST 100 index gains nearly 522.71 points versus previous close.
Morocco Arrests Two Daesh/ISIS Suspects 5 minutes ago...
Interior ministry says suspects were planning terrorist attacks.
Air, Sea, Land Traffic Disrupted In Istanbul Due To Fog 5 minutes ago...
Air traffic returns to normal at Istanbul's Sabiha Gokcen Airport, says Istanbul Governorate.
Air Pollution Could Bring 'Killer Fog' To Large Cities -10 minutes ago...
'Great Smog of London’ which killed up to 12,000 people, could be fate of other large cities if no measures taken.
Turkey Corners Terrorists With Advanced Drones: Expert 5 minutes ago...
Number of terrorists drops under 500 after armed unmanned aerial vehicle comes into use, says security expert.

 
      Top News
Portugal Book Their Ticket For EURO 2020 Finals Portugal Book Their Ticket For EURO 2020 Finals
UK Army Covered Up War Crimes, Report Suggests UK Army Covered Up War Crimes, Report Suggests
Protestors' Arrow Leave Policeman Wounded In Hong Kong Protestors' Arrow Leave Policeman Wounded In Hong Kong
Terrorist YPG/PKK Used Syrian School As Hideout: Turkey Terrorist YPG/PKK Used Syrian School As Hideout: Turkey
Antibiotic Resistance: A Foe That Knows Your Next Move Antibiotic Resistance: A Foe That Knows Your Next Move
Sri Lanka: Rajapaksa Apparent Winner As Foe Bows Sri Lanka: Rajapaksa Apparent Winner As Foe Bows
Verdict On Deposed Sudan's President Set For December Verdict On Deposed Sudan's President Set For December
Protesters Take To Streets On Yellow Vests Anniversary Protesters Take To Streets On Yellow Vests Anniversary
Sri Lanka Polls 'Peaceful' Despite Violations: Monitor Sri Lanka Polls 'Peaceful' Despite Violations: Monitor
Germany Arrests Daesh/ISIS Suspect Deported From Turkey Germany Arrests Daesh/ISIS Suspect Deported From Turkey