Oil Recovery

by Aug 9, 2019Market Reviews

Thursdays, session saw Oil prices surge, recovering from a seven-month- low, in the previous session, investors’ expectations that OPEC would reduce output further to support the market. Prices have been under pressure amid an ongoing trade dispute between the two global superpowers. US crude oil saw a rise of more than 2.5% to $52.34 a barrel, while Brent crude oil saw a 1.6% raise to $57.04 a barrel around 9:30 am Yew York time. Crude oil reached an all-time high of $147.27 a barrel in July 2008 and a record low of $1.17 in February 1946.

 

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