9.5 C
Alba Iulia
Tuesday, August 4, 2020

World Oil Prices continue to rise

Economy World Oil Prices continue to rise

World Oil Prices have continued to raise amidst tension between Iran and Britain over the capturing British sailors.

According to Oil Producing and Exporting Countries (OPEC) daily bulletin obtained by ZANIS , oil was yesterday trading at $US63.73 per barrel as compared to $US63.87 as
of Monday this week.

On a weekly basis , the prices of oil is higher as compared to the month of January when it was trading at $53.99 , February $US54.47 per barrel .

While on monthly basis, the commodity was trading at $US 50.73 per barrel for January , $US54.45 per barrel for February, $US58.47 for March this year.

The oil prices have sharply increased in the opening month of April as compared to $US 57.2 at the end of last month.

However , Chinese News Agency ( Xinhua) says oil prices today fall as tension between Iran and Britain eased.

Light sweet crude oil for may delivery lost $USI.30 to $US64.4 per barrel on the New York merchantile exchange.

Last month, OPEC indicated that oil market volatility is likely to continue in the coming quarter although the international market remains well supplied with crude

The organisation stated that indicators showed that oil volatility would continue although the market was adequately supplied with crude oil.

OPEC has however decided to continue closely monitoring market developments to ascertain that oil market stability is achieved and that global economic growth is

The organisation made the disclosure at the end of the 144th (Ordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC)
convened in Vienna, Austria .

Oil Prices on the international market has be fluctuating between the levels of over $50 a barrel and $60 a barrel from December last year to this year march.


- Advertisement -
- Advertisement -

Latest News

LCC beset by high incidences of damage and theft to the newly installed solar traffic light poles

Lusaka City Council (LCC) has bemoaned the high incidences of damage and theft to the newly installed solar traffic...

Winning hearts, one Chitenge at a time


Mbombo Laments Nkana Draw at Arrows

Nkana striker Idris Mbombo laments Saturday’s away draw at Red Arrows that saw them fail to assume poll position on the penultimate day of...

72 per cent of Zambian businesses are unable to raise funds due to COVID-19, FSD Zambia

A survey on the financial impact of COVID-19 on SMEs conducted by the Zambia Financial Sector Deepening and BFA Global show that Zambian businesses...

WEEKEND SCORECARD: Forest Stay Positive Despite League Title Setback

Forest Rangers coach Tennant Chilumba says they have a very big say in the direction of 2019/2020 league title in Thursday’s final round decider...

More Articles In This Category