:: Market News --- ID :: 14607
crude today:Brent rose on pipeline outage
Buying pressure

By Srinivas Chowdary Sunkara // petrobazaar // 19-12-2017

Crude oil price edged up today. Unexpected shut down of forties pipeline during the last week supporting the Brent. The U.K pipeline, which carries majority of the North Sea crude was shutdown due to outage. 

Rising U.S production is putting cap on rising oil prices in U.S. Oil production is expected to ramp up to reach highest levels in Jan fueled by high oil prices. API is expected to report further fall in U.S inventories.

WTI and Brent price today

U.S oil grade,  WTI Opened at $57.30 to reach day's high of $57.64 after touching a low of $57.16, trading at $57.45 per barrel on Nymex where as Brent is trading at $63.67 a barrel after touching a day's high of $63.86 on London based ICE futures europe exchange.