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Oil near six-month high as outages support
May 17, 2016 by creative · Leave a Comment
By Alex Lawler LONDON (Reuters) – Oil traded at around $49 a barrel on Tuesday within sight of a six-month high, supported by supply outages in Nigeria, Canada and other producers that are eroding a persistent glut. “Globally, there are still a lot of supply disruptions and this comes on top of natural declines,” said Olivier Jakob, oil analyst…
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Oil near six-month high as outages support
comes-on-top
Oil near six-month high as outages support
May 17, 2016 by creative · Leave a Comment
By Alex Lawler LONDON (Reuters) – Oil traded at around $49 a barrel on Tuesday within sight of a six-month high, supported by supply outages in Nigeria, Canada and other producers that are eroding a persistent glut. “Globally, there are still a lot of supply disruptions and this comes on top of natural declines,” said Olivier Jakob, oil analyst at Petromatrix. “It does bring forward the expected rebalancing in the second half.” Beside unplanned outages, supply from…