Oil prices close higher 3%

29/06/2016 00:01

Oil prices closed higher three percent or more on Tuesday as investors returned to buying in the market after its decline for two days by the British vote in favor of leaving the EU.

And investors shifted their attention to the fundamentals of the market because of potential supply disruptions and the expected decline in inventories.

And it boosted crude futures due to an impending strike in the oil and gas fields in Norway 's largest producer in western Europe after prices tumbled eight percent over two days, according to "Reuters".

Investors are counting on a large weekly decline for US crude stocks will be the sixth in a row after analysts predicted that the oil market is in a Reuters poll low stocks of 2.4 million barrels.

Said Carsten Fritsch , analyst at Commerzbank , "Bank of recovering oil due to bargain hunting , after dropping below $ 47 a barrel , which turned out to be its ability to continue and the news is likely to strike the Norwegian oil and gas sector."

And determine the settlement price for contracts of Brent crude to rise three percent, equivalent to $ 1.42 at $ 48.58 a barrel.

US crude rose 3.3 percent , or $ 1.52 a determined settlement at $ 47.85.