rose-on-tuesday
Oil prices rise on U.S. weather disruption, OPEC action speculation
August 30, 2016 by publisher · Leave a Comment
Oil futures rose on Tuesday supported by production suspensions in the U.S. Gulf due to an expected tropical storm and speculation that producers meeting in Algeria next month will act to prop up prices. Brent crude futures were trading at $49.73 per barrel at 0924 GMT, up 47 cents from the previous close. U.S. West Texas Intermediate (WTI) crude was up 45 cents at $47.43 a barrel.
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Oil prices rise on U.S. weather disruption, OPEC action speculation