Monday , January 18 2021

Oil increases as the risk of oversupply fades

Oil prices rose again due to the overflow of OILC efforts on Monday.

At 1445 hours, for March delivery, the Intercontinental Exchange (ICE) in the North Sea's Brent Barrel in London was valued at $ 58.05, up 99 cents from Friday's closing.

On the New York Mercantile Exchange (NYMEX), "Light Sweet Crude" (WTI) barrel 82 cents for the delivery in February, and an $ 48.78 trade after one hour after its inception.

On Monday, the price of Black Gold rose steadily for the fifth consecutive day, due to which crude was allowed to erase most of the losses in the last week of 2018.

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