Brent crude extends gains, nears $70 per barrel

28/05/2021 Argaam

Oil prices continued rising, heading for weekly gains ahead of OPEC meeting next week and amid expectations of a strong rebound in global fuel demand in the third quarter of 2021.

 

Analysts expect global oil demand to rebound closer to 100 million barrels per day (bpd) in the third quarter on summer travel in Europe and the US following widespread COVID-19 vaccination programmes, Reuters reported.

 

Brent crude futures for July added 0.5%, to $69.82 bpd by 03.40 Makkah time.

 

July NYMEX WTI settled gained 0.8% to $67.39 per barrel.

 

Baker Hughes is expected to issue US oil rig data later on today.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.