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Oil prices rise after Saudi oilfield attack

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Crude oil prices went up on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for any signs that Sino-U.S. trade tensions could ease.

Axar.az reports citing RIA Novosti that price gains were capped by an unusually downbeat OPEC report that stoked concerns about growth in oil demand.

Brent crude LCOc1 was up 64 cents, or about 1.1%, at $59.28 a barrel at 0255 GMT,

U.S. crude CLc1 was up 55 cents, or 1%, at $55.42 a barrel.

The attack in Saudi Arabia is “keeping markets firm”, said Michael McCarthy, chief markets strategist at CMC Markets Asia Pacific Pty in Sydney. The apparent easing of tensions between the US and China is also helping, he said.

Date
2019.08.19 / 11:38
Author
Axar.az
See also

Oil prices fall in global market

Gold hits a new record above $3,744 per ounce

US Federal Reserve cuts discount rate to 4–4.25%

Global oil prices continue to rise

Azerbaijan resumes crude oil exports to India

Oil prices keep climbing on world markets

Global oil prices rise again

Global oil prices decline

Oil prices continue to climb in global markets

Oil prices keep rising in global markets

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