Oil rises again to $ 42

History of edits:: 2016/3/18 17:31

[Oan- follow-up]
Oil prices rose above $ 42 a barrel on Friday, the highest level this year in the fourth week of gains in a row due to hopes installed top producers production levels and increased seasonal demand and a weaker dollar.
At 14:25 GMT, Brent crude futures rose 59 cents to $ 42.13 a barrel after touching its highest level in 2016 at $ 42.31 a barrel.
US crude rose 64 cents to $ 40.84 a barrel after climbing to $ 40.93 a barrel, and the benchmark crude 4.5 percent to close at $ 40.20 in the previous session.
Oil prices have surged more than 50 percent from its lowest level in 12 years, reached in December, since the Organization of Petroleum Exporting Countries raised [OPEC] the idea of ​​bringing the installed production Brent from about $ 27 and US crude from around $ 26.
The Many analysts believe that there is a possibility of further hikes.
Said Olivier Jakob of oil markets analyst at Petromatrix in Switzerland "go beyond the stage of lower demand and begin to enter into a phase of increased demand in the summer."
He added that the big glut in the supply of crude, which in the past helped the collapse in prices finally look in the direction of stability.