Open Demo Account
Home / Market Update / Commodities / Oil Closes Higher Ahead of OPEC+ Meetings

Oil Closes Higher Ahead of OPEC+ Meetings

M. Ali 30 March, 2021 1:44 am Commodities, Market Update

Oil prices rose on Monday, recovering from earlier losses, amid concerns about delays in oil shipments even after shipping restarted at the Suez Canal after the container ship that was blocking it was re-floated.

In addition, it is expected that the upcoming meeting for the Organization of the Petroleum Exporting Countries (OPEC) and their OPEC+ allies will extend output curbs during May.

Brent crude futures for May delivery rose by $0.54, or 0.84%, and finished at $65.11 a barrel.

The West Texas Intermediate (WTI) crude futures for May delivery increased by $0.59, or 0.97%, to close at $61.56 per barrel.

Tags

Check Also

ECB Divided on Inflation Risks as Eurozone Economy Slows

The European Central Bank found itself at a crossroads during its October meeting, with policymakers …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends