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Oil price up a nickel this week

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Oil price rises for second day ahead of producers’ compliance meeting

Oil price rises for second day ahead of producers' compliance meeting*/

– LONDON: Oil prices edged up for a second day on Friday on expectations that a weekend meeting of the world’s top oil producers would demonstrate compliance to a global output cut deal, but a larger than expected rise in weekly U.S. crude stocks capped gains.International benchmark Brent crude prices were up 58 cents at $54.74 a barrel at 1214 GMT.U.S. West Texas Intermediate (WTI) crude oil futures were trading up 52 cents at $51.89 a barrel.
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Oil price up a nickel this week

Oil price up a nickel this week*/

– Oil price up a nickel this weekImage 1 of / 1 Caption Close Image 1 of 1 Permian Basin Drilling Rig Permian Basin Drilling Rig Oil price up a nickel this week 1 / 1 Back to GalleryThe lead-up to President Donald Trump’s inauguration Friday didn’t do much to move the price of oil this week.West Texas Intermediate contracts for February delivery closed Friday at $52.42 a barrel, up $1.05 (2.04 percent) on the day but only up 5 cents (0.1 percent) for the week.Friday was the last day for the February contract.
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Oil price will fall into $30s, says the man who predicted 2014 crash

Oil price will fall into $30s, says the man who predicted 2014 crash*/

– A surge in the oil price to the mid-$50s is nothing more than a “typical counter-trend rally” during a “long bear market”, according to one energy fund manager.See related Will Brexit Britain endure an economic recession?Shawn Driscoll is not just any manager neither: he runs the T Rowe Price New Era Fund, which has assets of $3.6bn and gained 40 per cent in the past year – plus he is one of few who called the oil price’s collapse two years ago.
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