By Srinivas Chowdary Sunkara // petrobazaar // 09-01-18
CRUDE OIL PRICE TODAY:
Crude oil prices are remain on upward trajectory. Brent is back to $68 area and trading at highest level since May, 2015. U.S crude is trading at three years high levels after Dec, 2014. Geo-political tensions, expected drawings in U.S crude stocks for eight week extended support to oil prices. American Petroleum Institute stock report is due to release today's night and consensus is another major draw in crude stocks.
BRENT AND WTI PRICE TREND:
The U.S crude oil prices, West Texas Intermediate grade futures rose 93 cents or 1.507 % at $62.66 a barrel on Nymex while Brent oil futures spiked by 76 cents or 1.121% at $68.54 per barrel on London based ICE futures Europe exchange. Brent is trading at a premium of $5.88 per barrel at the time of report by IST 11:08 p.m.