Wednesday, 17 February 2016

US CRUDE

US crude futures rebounded on Wednesday on investor hopes a deal between Saudi Arabia and Russia to freeze oil output at January levels would lead to a wider pact among producers that could eventually see production cuts to support prices. US crude had risen 24 cents to USD29.28 a barrel by 0033 GMT, after ending the previous session down 40 cents. 

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US crude futures rebounded on Wednesday on investor hopes a deal between Saudi Arabia and Russia to freeze oil output at January levels would lead to a wider pact among producers that could eventually see production cuts to support prices. US crude had risen 24 cents to USD29.28 a barrel by 0033 GMT, after ending the previous session down 40 cents.

Read more at: http://www.moneycontrol.com/news/commodities/us-crude-reboundsinvestor-optimism-over-oil-producers-deal_5519121.html?utm_source=ref_article