Home BUSINESS OIL: Prices Rise To $70 On Strong Economy Amid OPEC Cuts

OIL: Prices Rise To $70 On Strong Economy Amid OPEC Cuts

167
0
SHARE

Oil prices were firm on Wednesday, receiving ongoing support from healthy economic growth as well as from supply restrictions led by a group of producers around the Organisation of the Petroleum Exporting Countries (OPEC) and Russia.

Spot Brent crude oil futures, the international benchmark for oil prices, were at 70 dollars a barrel,up by 4 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at 64.59 dollars a barrel, up 12 cents .

In the latest sign of healthy global economic growth, Japanese manufacturing activity expanded at the fastest pace in almost four years in January, a survey showed on Wednesday.

LEAVE A COMMENT