Friday, February 26, 2016

Oil Market Update : Epic Research Singapore

Oil bounced back after news reports said Venezuela’s oil minister announced plans for his country to meet with representatives from Russia, Saudi Arabia and Qatar.

Brent crude LCOJ6, -1.11% the global oil benchmark, rose 88 cents, or 2.6%, to end at $35.29 a barrel after trading as low as $33.29 on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures CLJ6, -0.64%  rose 92 cents, or 2.9%, to finish at $33.07 a barrel. Brent’s settlement was the highest since Jan. 5, while the WTI close was the highest since Jan.29.

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