Oil prices touch $ 64 a barrel



economy
Since 2017-11-10 at 09:36 (Baghdad time)

Baghdad Mawazine News

Oil prices rose nearly 1 percent, boosted by supply cuts from two main sources and concern over political developments in Saudi Arabia.

The market was also supported by data showing a rapid decline in global oil inventories in October due to OPEC-led production cuts.

London's benchmark Brent crude rose 44 cents, or 0.7 percent, to settle at $ 63.93 a barrel, just shy of a record high of $ 64.65 since June.

US benchmark WTI futures rose 46 cents, or 0.8 percent, to $ 57.27 a barrel, remaining close to a two-year high of $ 57.69 this week.

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