Oil closing up to $ 39 per barrel


Saturday, March 05 2016 21:27

Oil closing up to $ 39 per barrel

BAGHDAD / Baghdadi News / .. stepped up crude oil prices in the futures once again, on Saturday, to close at an altitude of nearly 39 dollars per barrel.

Prices rose more than 5% when backed by the high number of US jobs the settlement, in addition to data reduction in the number of oil drilling rigs show this week for 11 weeks in a row.

The price of the global London Brent crude futures to $ 1.87 or 5.04 percent to $ 38.94 a barrel at the settlement.

US crude futures price of $ 1.75 or 5.06 percent at the settlement as well as $ 36.32 a barrel.

Both already allocated indices went up about ten percent during the week to bring Brent second weekly gain in a row while the third consecutive US crude.

And it contributed to the positive numbers for jobs in February in support of expectations for demand for crude oil in the largest oil consumer in the world.

Oil prices fell below $ 30 per barrel beginning in January 2016 because of an oversupply of crude oil, and the lack of demand for it.


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