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Crude advances as Opec supply cuts kick in

Posted on 27 February 2009

From FT: Oil prices rose on Thursday on evidence that Opec supply cuts were tightening the market, but gold tumbled as investor inflows into gold exchange traded funds faltered. ICE April Brent rose $1.56 cents to $45.85 a barrel, trading in a range of $44.15-$46.38.

The United Arab Emirates said it would sell less crude to customers in Asia in April than in March, which some traders viewed as a possible signal that Opec would agree further supply cuts at the oil producer group’s next meeting in March….. Full Article: Source


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