Brent Crude Oil Tops $50


Brent crude oil tops $50

LONDON, (APP - UrduPoint / Pakistan Point News - 18th August, 2016) - Oil prices rose on Thursday with Brent briefly topping $50 thanks to a weaker Dollar and a drop in US crude stockpiles, traders said. Brent North Sea crude reached $50.05 a barrel -- breaching $50 for the first time since early last month.

Later around 1230 GMT, Brent North Sea crude for delivery in October was up two cents at $49.87 a barrel following some profit-taking. US benchmark West Texas Intermediate for September delivery gained 27 cents to $47.06, compared with Wednesday's close.