Oil prices dip after Lunar New Year as U.S. inventories hit record highs

dimanche 22 février 2015

A general view of the Bashneft-Ufimsky refinery plant is seen outside Ufa, Bashkortostan Following a steep fall from June 2014 to six-year lows, oil prices have recovered around a third of their value since mid-January, with benchmark Brent contracts jumping almost $20 a barrel to $63 a barrel last week as traders closed long-standing short positions in reaction to a falling U.S. rig count. "U.S. crude oil prices slipped, as markets finally digested another rise in U.S. crude inventories, which offset another week of oil rig count declines," ANZ bank said on Monday. Benchmark Brent crude futures (LCOc1) were trading at $60.07.








via Business News http://ift.tt/1GjgW8A

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