Monday, 29 January 2018

Oil Prices Start the Week Near Recent Highs Amid OPEC Optimism-SapForex24

U.S. West Texas Intermediate (WTI) crude futures inched up 19 cents, or 0.3%, from their last close to $66.33 a barrel .

The U.S. benchmark reached its best level since Dec. 4, 2014 at $66.66 last Thursday.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., declined 11 cents, or roughly 0.2%, to $70.04 a barrel. The contract touched $70.78 on Thursday, a level not seen since Dec. 2014.


gasoline futures held steady at $1.925 a gallon, while heating oil shed 0.4% to $2.119 a gallon.

Natural gas futures sank 7.9 cents, or 2.5%, to $3.095 per million British thermal units, as updated weather forecasting models called for milder weather next week.

The commodity soared about 10% last week, as traders reacted to a blast of cold weather which upped demand for the heating fuel.

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