Crude oil is trading almost flat

Market news

16 February 2017

Crude oil is trading almost flat

This morning, the New York futures for Brent crude oil rose by 0.23% and WTI rose 0.15% to $ 53.19. Thus, the black gold prices traded slightly up, showing a sluggish trend. As reported yesterday, the Energy Information Administration, for the week ending February 10, the amount of oil reserves in the US rose by 9.5 million barrels to 518.1 million barrel mark.

Unnamed OPEC sources: OPEC could extend or deepen supply cuts at the up coming meeting

Brazilian economic activity contracted sharply last year, marking the second consecutive year of deep economic recession, according to an index compiled by the central bank

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