Crude Oil prices rose more than 1% on Wednesday to their highest in nearly a month as industry data showed US crude stockpiles fell more than expected, underpinning a market already buoyed by worries over a potential US-Iran conflict.
Brent crude prices
Two Big Producers just Called the Bottom on Crude oil: $60 a Barrel
Gold Silver Reports (GSR) – Oman oil minister Mohammed Al-Rumhi told Bloomberg TV that the agreement between the Organization of Petroleum Exporting Countries (OPEC) and partners including Russia and Oman can sustain prices at $60 a barrel.
JP Morgan has cut its outlook for oil, predicting that Brent crude prices will average $73 a barrel in 2019
Scott Darling, head of Asia-Pacific oil and gas at JP Morgan told CNBC that the investment bank recently revised its outlook in part due to North American supply ramping up in the second half of next year. JP Morgan expects the price of Brent, the international benchmark for oil, to go toward $64 in 2020.