• Oil is trading higher

Market news

26 January 2017

Oil is trading higher

This morning, the New York futures for Brent rose 0.96% to $ 55.61 and WTI rose 0.72% to $ 53.13. Thus, the black gold prices traded in positive territory on the background of the weakening dollar. According to the US Energy Information Administration oil stocks rose last week by 2.84 million barrels to 488.3 million barrels. Thus, oil production in the US rose more than 6.3% since the middle of last year to 8.96 million barrels per day.

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