Weekly Energy Recap: Breaking through $40 oil – ZAWYA

Weekly Energy Recap: Breaking through $40 oil – ZAWYA

Weekly Energy Recap: Breaking through $40 oil | ZAWYA MENA Edition HomeMarketsCommoditiesArticleWeekly Energy Recap: Breaking through $40 oil Oil prices have moved in a narrow band for most of the past two months    Oil drilling rig operation on the oil platform in oil and gas industry. Industrial concept. Image used for illustrative purpose.Brent crude oil rebounded to a near 20-week high at $42.80 per barrel as WTI also rose to $40.32 per barrel.Brent averaged $40 per barrel for the month of June, almost the same as for the entire first half of the year.Oil prices have moved in a narrow band for most of the past two months as OPEC+ output cuts achieved the desired goal of bringing stability to a market threatened by volatility.Brent averaged $40 per barrel for the month of June, almost the same as for the entire first half of the year.Brent crude oil rebounded to a near 20-week high at $42.80 per barrel as WTI also rose to $40.32 per barrel.Oil prices have moved in a narrow band for most of the past two months as OPEC+ output cuts achieved the desired goal of bringing stability to a market threatened by volatility.Now that another