✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

Oil prices climb with planned output cuts in focus

Published 04/01/2017, 13:41
LCO
-
CL
-

Investing.com - Oil prices rose on Wednesday, with top exporter Saudi Arabia expected to raise prices for its crude as part of planned supply cuts.
Brent crude was trading up 26 cents, or 0.47% at $55.73 a barrel at 08:50 GMT. U.S. crude was up 18 cents or 0.34% at $52.51.
Oil prices ended sharply lower on Tuesday as the strong dollar weighed, after surging to 18-month highs earlier in the day.
Prices remained supported by hopes that major oil producers will stand by their agreement on planned production cuts aimed a draining a global supply glut.
The planned cuts and the way U.S. producers respond to rising prices will help set the direction for the oil market going into the new year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.