Oil prices advance as OPEC+ sets to meet

SourceGulf Today
SectorOil & Gas

Picture used for illustrative purpose.

File Gulf Today Report Oil prices rose on Tuesday on the hope that OPEC+ will hold out production cuts for at least three months. Brent crude futures for January rose 26 cents, or 0.6%, to $44.08 a barrel by 0535 GMT and US West Texas Intermediate crude for December added 18 cents, or 0.4%, to $41.52 a barrel.  Jeffery Halley, senior market analyst at OANDA said, "Moderna's vaccine announcement had probably its largest effect on oil out of the main asset classes, almost certainly put a long-term floor under oil prices".  READ MORE  ...read more...