| Brent crude rises above $50 a barrel on hopes of Opec production cap and drop in US stockpiles. The main global oil benchmark rose above $50 a barrel on Thursday afternoon, taking crude back into bull market territory, as hopes of an Opec production cap and a surprise drop in US crude stockpiles helped power a recovery in prices.
Less than three weeks after falling into a bear market — defined as a drop of more than 20 per cent from the recent peak — oil has now gained for six straight days and is up over 20 per cent from this month’s low...............................................Full Article: Source
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