Caspian Energy Journal Caspian European Club
Thursday, 29 November 2018 17:00

Oil prices firm ahead of G20 meeting

Oil prices firm ahead of G20 meeting

Oil prices edged up on Thursday on optimism that trade talks at the upcoming G20 meeting could help the global economy and improve demand, but gains were curbed after U.S. crude inventories hit their highest in a year, Caspian Energy News ( reports with reference to Reuters.

U.S. crude futures had risen 20 cents, or 0.4 percent, to $50.49 per barrel by 0737 GMT. The market ended the previous session down 2.5 percent at $50.29 a barrel, after marking its lowest since early October last year.

International benchmark Brent crude gained 6 cents, or 0.1 percent, to $58.82 a barrel, having dropped 2.4 percent on Wednesday to $58.76 a barrel.

Both markets had climbed more than 1 percent in early Asian trade.

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Person in charge of the newsline: Olga Nagiyeva 

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