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GLOBAL OIL PRICES
Brent oil futures were up by 0.83% to $51.62, increasing the odds of staying above $50/barrel before Christmas.
At the time of writing this report, Brent oil futures were down by 1.06% to $49.30 thereby dropping below the $50 mark.
Brent crude dropped about 3.20% to trade at $50.59 and WTI futures sank by 3.09% to $47.72.
Oil prices are presently cooling off on the bias of the $900 billion economic stimulus package lingering at the U.S Congress
Oil prices are expected to rise slightly in the last quarter of the year, with further gains due to a cold snap in global travel and the ongoing economic recovery.
Brent crude futures rose by 60 cents or 1.4%, to close at $42.32 per barrel.
Tropical Storm Sally picked up its strength in the Gulf of Mexico, west of Florida yesterday.
In recent weeks, oil demand has really suffered a setback.
Revenue losses span across oil and gas upstream and downstream at levels not seen in recent years.
OPEC’s policies were truly influenced by the 2014 fall in price.
Expert and professional crude oil traders reveal what it takes to be successful in the trade.
Brent crude gained about to trade at $44.32 a barrel by 3.49 am.