Crude oil prices have continued to fall today, on reports of bursting inventories in the US and Asia.
Crude oil prices have finally risen above $50 per barrel for the first time since the end of June on Thursday.
Crude oil prices have suffered a slight increase this morning, following reports of renewed talks by members of the Organisation of Petroleum Exporting Countries (OPEC) to limit oil production.
Saudi Aramco just announced it has lowered the price of its Arab Light crude by the most since October 2015, showing it does not intend to change its plans amid Iran’s strong revival.
Brent crude oil prices rose again today, pushed by a weakened U.S. dollar and a tightened supply caused by outages in Canada and Nigeria.
The price of Brent crude oil has topped US$50 per barrel – the first time the oil benchmark has achieved such a high this year, and the first time since November 2015.