Oil prices extend longest quarterly rally

Oil prices extend longest quarterly rally


Oil in London extended gains after the longest quarterly rally in a decade as a slowdown in American drilling added to supply risks while the U.S. and Saudi Arabia discussed market stability. Brent crude rose as much as 0.7 percent, after front-month futures climbed for a fifth straight quarter.

Brent for December settlement increased as much as 54 cents to $83.27 a barrel on the ICE Futures Europe exchange and was at $83.17 at 12:22 p.m. in Singapore. WTI for November delivery traded at $73.55 a barrel on the New York Mercantile Exchange, up 30 cents. (Source – Bloomberg)


Oil prices extend longest quarterly rally < Commodity News