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Brent Crude Rebounds Slightly From Biggest Drop in 2 and a half Years
Thursday, 12 July 2018 18:43 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil prices rebounded Thursday as investors reevaluated news that had sent Brent to its biggest decline in almost 2 1/2 years on Wednesday.

The price of crude fell then amid concern over resurgent Libyan supply and the U.S.-China trade dispute. But some analysts question how soon that oil will hit markets, while investors around the world appeared to take a more relaxed view of the threat of a trade war on Thursday.

September Brent crude meanwhile, rose 76 cents, or 1%, to $74.16 a barrel on London™s ICE Futures exchange. The contract wrapped trading Wednesday down nearly 7% at $73.40 a barrel, marking its lowest settlement since June 21.

August West Texas Intermediate crude the U.S. benchmark, was up 39 cents, or 0.6%, to $70.77 a barrel. The contract closed at $70.38 a barrel on the New York Mercantile Exchange Wednesday”its lowest finish since June 25.

Source : Marketwatch

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