TELETRADER News
9/27, 12:54 PM
(Source: TeleTrader)
Brent tops $95 again with supply still in focus
Prices of oil futures rose on Wednesday as Russia and Saudi Arabia's decisions to extend production cuts until the end of the year continued to cause anxiety among traders.
In addition, even though the American Petroleum Institute (API) yesterday supposedly reported an increase in crude oil stockpiles in the United States, the expansion was apparently too small to compensate for huge declines registered in recent months.
For settlements in November, West Texas Intermediate (WTI) rose by 1.63% to $91.85 per barrel and Brent moved up 1.27% to $95.16 per barrel at 6:43 am ET.