Black gold records the best performance in 13 years



01/10/2017 09:45 | Number of readings: 231

Trend Press / Agencies



Oil prices rose in the settlement after a rally triggered by geopolitical instability in northern Iraq, which helped Brent achieve its strongest performance in the third quarter since 2004.

Global Brent crude rose 13 cents, or 0.2 percent, to settle at $ 57.54 a barrel, making quarterly gains in the third quarter of about 20 percent. On a weekly basis, it rose 1.2 percent.

The contract hit its highest level in more than two years earlier this week, resulting in gains for the fifth week. The performance is the longest weekly rally since June 2016.

US crude rose 11 cents to settle at $ 51.67 a barrel, its strongest third quarter in 10 years, and its longest weekly gain since January. US crude rose about 2 percent on a weekly basis.

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