You are here: Home » Reuters » News
Business Standard

Oil markets stable, but doubts over recent bull run emerge

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices held steady on Thursday after falling late in the previous session, supported by ongoing supply cuts led by OPEC and Russia.However, traders said a price rally that has pushed up Brent crude futures by more than 40 percent since July may have run its course due to increases in U.S. supplies and some indicators of a demand slowdown."Prices may have reached a short-term peak," said Fawad Razaqzada, analyst at futures brokerage Forex.com.Brent futures were at $63.50 per barrel at 0818 GMT, virtually unchanged from their last close. But that is ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, November 09 2017. 14:01 IST
RECOMMENDED FOR YOU