Caspian Energy Journal Caspian European Club
Thursday, 04 April 2019 11:00

Brent edges up toward $70 level

Brent edges up toward $70 level

Oil prices were mixed on Thursday, with Brent edging higher toward the psychologically important $70 level after easing in the previous session on data showing a surprise build in U.S. inventories, Caspian Energy News ( reports with reference to Reuters.

Brent futures were up 5 cents at $69.36 a barrel by 0224 GMT. On Wednesday, Brent dipped 6 cents, after touching $69.96, the highest since Nov. 12, when it last traded above $70.

U.S. West Texas Intermediate (WTI) crude fell 3 cents to $62.43 a barrel. The contract dropped 12 cents in the previous session after briefly hitting $62.99, also the highest since November.

Global benchmark Brent has risen nearly 30 percent this year, while WTI has gained nearly 40 percent, with prices underpinned by tightening global supply and signs of demand picking up.

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Person in charge of the newsline: Olga Nagiyeva 

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