UPSTREAMONLINE.COM
Benchmark Brent crude for February was up 20 cents at $52.04 a barrel by 09:50 GMT. On Wednesday, the expired January Brent contract ended up $4.09 or 8.8% at $50.47.
Benchmark Brent crude for February was up 20 cents at $52.04 a barrel by 09:50 GMT. On Wednesday, the expired January Brent contract ended up $4.09 or 8.8% at $50.47.
US light crude rose back above $50 briefly before easing to $49.54 a barrel, up 10 cents on the day.
Oil prices initially jumped around 8% and then by a further 3% on Thursday morning following the landmark pact whereby Opec agreed to cut 1.2 million barrels per day of output and non-Opec countries – including Russia - a further 600,000 bpd.
Read more>
Read more>