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Wednesday 3 January 2018

Oil with the highest value since June 2015

Oil has reached its highest level since mid-2015 yesterday, but has since retreated from its value after a recovery in Libya's lead pipeline supplies and data for a rise in US production to the highest value for four decades.
This was the first time since January of 2014, when both major types of oil - Brent and Crude, opened the year at levels above $60 a barrel. Aid for rising oil prices has sparked political tensions in Iran and the agreement between OPEC and Russia to restrict the production of raw materials.
US crude oil ended yesterday with a fall of 5 cents to 60.37 dollars a barrel or its highest level since June 2015.
The Brent lost 30 cents of its value, or close lower by 0.5 percent to a level of $67.29 a barrel. This was the highest level since May 2015.


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