Brent pushes above $50
Brent pushes above $50
London - Arab Today
Crude prices edged up on Monday, building on recent gains with Brent holding above $50 after Nigerian militants claimed fresh attacks on the country’s oil infrastructure.
Prices see-sawed last week, plunging in the immediate aftermath of Britain’s shock decision to leave the European Union but rallying after central banks worldwide vowed support to financial markets.
Brent crude futures were trading at $50.31 per barrel at 1344 GMT, down 4 cents from their last settlement. US crude futures were flat at $48.99 per barrel.
Nigerian production is now at 30-year lows, noted Accendo Markets analysts Michael van Dulken and Augustin Eden.
Source: Arab News
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