Oil ends week on strong gains
08/20/2016 14:36
[Where - Baghdad]
finished oil last week on strong gains in global markets.
Closed Futures low to Brent one cent to $ 50.88 a barrel on Friday, after jumping to the highest level in two months to $ 51.22 a barrel.
The Brent 8% during the week , recording notable gains for the third consecutive week.
Rose WTI US mediator 30 cents , or 0.62 % settled at $ 48.52 a barrel after level yesterday to $ 48.75 a barrel , its highest level since the fifth of July last.
rose during the entire week 9% to record gains for the second consecutive week and the largest weekly gain since early March / March 2016.
According to this rise by speculation that Saudi Arabia and other prominent members of the Organization of the Petroleum exporting countries [OPEC] would reach next month an agreement to install a production with non - members of the organization , including Russia.
OPEC holds an informal meeting in Algeria next month with producers from outside. https://www.alliraqnews.com/modules/news/article.php?storyid=46289