Crude oil futures erased losses to hit the highest levels of the session
on Monday, as investors reacted to bullish comments made by OPEC
Secretary-General Abdalla El-Badri.
On the New York Mercantile Exchange, crude oil for delivery in March tacked on 35 cents, or 0.78%, to trade at $45.95 a barrel during U.S. morning hours.
Nymex oil fell by as much as $1.23 to hit a session low of $44.36 earlier, a level not seen since March 2009.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for March delivery inched up 27 cents, or 0.55%, to trade at $49.06 a barrel. Earlier in the day, Brent touched a low of $47.59, down $1.20.
Oil prices erased losses after El-Badri said he is open to meeting with non-OPEC producers to balance the market.
Read more Click here / www.trade4x.net
On the New York Mercantile Exchange, crude oil for delivery in March tacked on 35 cents, or 0.78%, to trade at $45.95 a barrel during U.S. morning hours.
Nymex oil fell by as much as $1.23 to hit a session low of $44.36 earlier, a level not seen since March 2009.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for March delivery inched up 27 cents, or 0.55%, to trade at $49.06 a barrel. Earlier in the day, Brent touched a low of $47.59, down $1.20.
Oil prices erased losses after El-Badri said he is open to meeting with non-OPEC producers to balance the market.
Read more Click here / www.trade4x.net
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