Oil rises due to the inventory decline, but doubts the producers agreement limiting g
Oil rises due to the inventory decline, but doubts the producers agreement limiting gains
Twilight News / Oil prices rose again on Thursday to continue to rise for a second day with the support of US government data showing an unexpected drop in crude stocks but oil futures pared gains amid fears traders from the Organization of Petroleum Exporting Countries do not come close to the (OPEC) to agree on a reduction of oversupply.
Oil prices found further support in the dollar's decline, a day after the Federal Reserve's decision (the Fed) to keep interest rates unchanged. Rose WTI US mediator in futures 98 cents, or 2.2 percent, to reach a settlement at US $ 46.32 a barrel. Crude reached its highest level in the session at $ 46.52 a barrel. And increased global London Brent crude futures 82 cents, or 1.8 percent, to reach a settlement at US $ 47.65 a barrel. Brent reached its highest level in the session at $ 47.83 a barrel. Since the beginning of the week, US crude rose eight percent, while Brent rose four percent to Van is heading towards the biggest weekly Mkasphma in about a month. The abandoned ore futures for some of its gains after Reuters said that a meeting of OPEC at the expert level two-day meeting on cooperation on production did not result in a major breakthrough. The meeting came before talks scheduled between 26 and 28 September in Algeria between OPEC members and other producers from outside the organization to discuss the possible installation of production. Oil rose after the release of the report of the US Energy Information Administration on Wednesday showed a decline in crude stocks rose 6.2 million barrels last week, compared with market expectations for an increase of 3.4 million barrels. US crude inventories fell unexpectedly, dropping 21 million barrels since the beginning of this month