Brent Crude Oil Tops $50
Fahad Shabbir (@FahadShabbir) Published August 18, 2016 | 10:07 PM
LONDON, (APP - UrduPoint / Pakistan Point News - 18th August, 2016) - Oil prices rose on Thursday with Brent briefly topping $50 thanks to a weaker Dollar and a drop in US crude stockpiles, traders said. Brent North Sea crude reached $50.05 a barrel -- breaching $50 for the first time since early last month.
Later around 1230 GMT, Brent North Sea crude for delivery in October was up two cents at $49.87 a barrel following some profit-taking. US benchmark West Texas Intermediate for September delivery gained 27 cents to $47.06, compared with Wednesday's close.
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