The week has started with the
Meanwhile, crude oil extended last week’s gains as speculations about a deal concerning supply cuts persisted. Members of the Organization of Petroleum Exporting Countries and Russia are talking about reduction of output as a measure to support prices. While many experts are skeptical about the deal, it looks like the market considers the talks seriously enough to propel futures for crude higher. March futures for WTI oil gained 1.56 percent to $29.9 per barrel on NYMEX today. Contract for delivery of Brent crude oil in April advanced 1.05 percent to $33.71 per barrel on ICE.
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