Thank you for reading the news about Oil extends gains, Brent nears $59 and now with the details
Jeddah - Yasmine El Tohamy - Oil prices extended gains on Thursday as OPEC+ maintained its oil output policy in a meeting on Wednesday, Feb. 2, 2021, and as crude stockpiles in the US fell to their lowest levels since March 2020.
International benchmark Brent crude was trading up 0.6 percent at $58.80 per barrel, at 7 am Riyadh time.
WTI crude rose 0.7 percent to $56.09 a barrel.
Crude prices have been rising now that OPEC+ has convinced the energy market that they are determined in accelerating market re-balancing without delay, Reuters reported, citing said Edward Moya, senior market analyst at OANDA.
Meanwhile, US crude oil stockpiles fell by 994,000 barrels last week to 475.7 million barrels, their lowest since March, according to the Energy Information.
These were the details of the news Oil extends gains, Brent nears $59 for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.