Oil above $50 a barrel


 

 

6/22/2016

Oil above $ 50 a barrel

 

BAGHDAD / JD / .. Oil prices rose in Asian trading on Wednesday, and the right of US crude ore Brent above $ 50 a barrel after data from the American Petroleum Institute showed a larger than expected fall in crude stocks in the United States last week.
According to Reuters, the US has stepped up Brent crude contracts for the nearest maturity of 28 cents, or about 0.56 percent to $ 50.13 a barrel by 0400 GMT. Earlier in the session, US crude jumped to $ 50.54, the first time it rises above $ 50 since the tenth of June.
And it increased the global Brent crude contracts for Brent 26 cents or 0.51 percent to $ 50.88 a barrel after the previous session ended three cents lower to $ 50.62.
The American Petroleum Institute said US crude oil inventories fell by 5.2 million barrels in the week ended June 17, or the equivalent of three times the decline expected by analysts surveyed by Reuters of 1.7 million barrels. / End / 22 /
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