The oil price broke out of a four-session mini-slump overnight and was hovering close to seven-month highs this morning after a positive report on supply boosted sentiment. US benchmark West Texas Intermediate jumped 2.5 per cent to $49.27 a barrel in afternoon trading in New York yesterday, a new 2016 peak and the highest price since October.
It was holding within 10 cents of this at around 9.45am in London this morning. International benchmark Brent crude peaked last night at around $49.24, around 25 cents below its six-month high of last Monday, and was similarly steady in early London trading...............................................Full Article: Source
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