Twilight News / closed oil was up three percent on Monday with senior producers meeting in Algeria to discuss ways to support prices while volatility increased to their highest level since a similar meeting to install a production hosted by Doha in April, but my failure.
The Organization of the Petroleum Exporting Countries (OPEC) and other exporters in the forefront of Russia's largest producer in the world held an informal meeting on the sidelines of the International Energy Forum in Algeria from 26 to 28 September to discuss steps to address the supply glut of crude, which affect prices. And reduced Iran, a senior member of OPEC and the fourth-largest crude exporter, the chances of concluding an agreement while holding other members of the Organization of hope. Iran is working to return to production levels before the imposition of international sanctions on it in 2012. Said Tariq Zahir of Teach Financial Advisors in New York, "What OPEC did not cut production a significant reduction over the installation, I think we will lose everything we have gained at the end of this week." And determine the settlement price of the futures contract for Brent crude to rise to $ 1.46, equivalent to 3.2 percent at $ 47.35 a barrel, after trading between 45.74 and $ 47.66 And increased US crude West Texas Intermediate to $ 1.45, or 3.3 percent, to $ 45.93 at the settlement. The highest price in the transaction Monday to $ 46.20 and the lowest price of $ 44.43.