Oil rises to $ 61, the highest in two years

Al Furat News - Oil prices ended in October, high on gains above 5 percent, the highest in more than two years.

Brent crude rose to its highest close on Wednesday to settle at $ 61.39 a barrel near its highest level since July last year, up 37 percent from its lowest level this year in June, Reuters reported.

US benchmark crude, WTI, closed up to $ 54.38 a barrel near its highest level in more than two years.

Brent ended the month up 6.7 percent, while US crude rose 5.2 percent. The difference between US crude prices and Brent has widened to around $ 7, making it attractive to exporters.

US crude exports jumped nearly 2 million barrels per day and output has risen nearly 13 percent since mid-2016 to 9.5 million bpd


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