Oil prices rose by almost 1 percent on Tuesday, lifted by a weak dollar, tensions in the Middle East and concerns of a further fall in Venezuelan output. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $62.59 a barrel at 0656 GMT, up 53 cents, or 0.9 percent, from their previous close. Source: Reuters
Global debt hit its highest levels ever and governments should take actions to reduce their indebtedness while the going is still good, the International Monetary Fund said. Source: CNBC
Talks between Exxon Mobil (XOM.N) and Iraq on a multi-billion-dollar infrastructure contract have reached an impasse, Iraqi officials and two industry sources said, in a potential setback to the oil major’s ambitions to expand in the country. Source: Reuters
Since 2015, when oil hovered around 35 and 40 dollars a barrel, the Gefira team has explained to their paid subscribers that oil will be back at 100 dollars by 2020.
Oil futures jumped more than 2 percent on Wednesday on a decline in U.S. crude inventories and after sources signaled top exporter Saudi Arabia wants to see the crude price closer to $100 a barrel. Source Reuters
