Tag
BRENT
The low volatility in Brent crude was largely attributed to many oil traders staying on the sidelines.
Brent crude gained 0.30% to $43.69 as of 8: 20 AM GMT.
Brent crude still needs to deal with its oversupply issues before it can successfully move on with its current price range of $40 and $50 per barrel.
A monitored report suggests that Nigeria has reduced the official selling prices for its crude oil so as to clear an inventory of unsold April-loading cargoes.