Oil rises to $ 50 a barrel for the first time seven months ago



The number of visits: 10388 Published on: 26/5/2016, 10:08 Published by: Hamid

Oil rises to $ 50 a barrel for the first time seven months ago

It stepped up oil prices during Asian trading on Thursday, driving Brent to exceed the level of $ 50 a barrel for the first time in nearly seven months ago.

According to "Reuters", the oil also received support from the rise of global stock markets, but gains limited by the US dollar remains near its highest level in eight weeks against a basket of major currencies.

Brent rose to the nearest maturity of 36 cents to $ 50.10 a barrel, the highest level since the fourth of November after the previous session ended on a gain of $ 1.13.

The US crude futures climbed 32 cents to $ 49.88 a barrel after having closed on Wednesday, 94 cents higher.

The US Energy Information Administration said commercial oil inventories in the United States fell 4.2 million barrels to 537.1 million barrels in the week ending May 20 / May, the biggest drop in seven weeks. Analysts' forecasts point to a drop of 2.5 million barrels.

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