Oil comes back to climb above $ 48 a barrel 10/22/2015
Oil comes back to climb above $ 48 a barrel
Oil prices rose Thursday above $ 48 a barrel after the dollar fell about in the previous session due to increased inventories.
The price of Brent crude futures December delivery up 38 cents to $ 48.23 a barrel. And the global Brent crude fell 86 cents or 1.8 percent at the close of trading Alams after reaching 47.50 dollars a barrel, the lowest level since early this month. "
And stepped up US crude in December contracts for 40 cents to $ 45.60 a barrel, after falling 1.09 dollars or 2.4 percent at the settlement in the previous session. Crude reached its lowest level in three weeks at $ 44.86 a barrel on Wednesday.
Oil prices came under new pressure due to concerns about global supply glut this week after the US crude inventories rose more than analysts expected.
US Energy Information Administration data on Wednesday showed that US oil inventories had risen sharply for the second week to jump eight million barrels in the week ended 16 October now. "