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Caspian Energy Journal Caspian European Club
Tuesday, 02 April 2019 13:00

Oil rises to five-month high

Oil rises to five-month high

Oil prices climbed to nearly five-month highs on Tuesday, supported by firm Chinese economic data that eased demand concerns, the possibility of more sanctions against Iran and further Venezuelan supply disruptions, Caspian Energy News (www.caspianenergy.net) reports with reference to Reuters.

Brent crude rose 15 cents, or 0.2 percent, to $69.16 a barrel by 0636 GMT, having earlier touched $69.50, the highest since mid-November.

U.S. West Texas Intermediate (WTI) futures rose 14 cents, or 0.2 percent, to $61.73 a barrel, after earlier rising above $62 for the first time since early November.

Positive data from the world’s biggest economies, the United States and China bolstered prices, with China’s manufacturing sector unexpectedly returning to growth for the first time in four months during March, figures showed on Monday.

More details: https://www.reuters.com/article/us-global-oil/oil-rises-on-iran-sanctions-threat-venezuela-shutdown-idUSKCN1RE01V

Person in charge of the newsline: Olga Nagiyeva 

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