Oil is holding at its highest level in one and a half years
|12/30/2016||Posted by BusinessMediaguide.Com under General World News||
The price of oil is holding close to highs not seen in as long as 18 months on Friday as balance starts to slowly but surely return to the market after being blighted by a huge supply and demand imbalance for more than two years.
Prices for both major benchmarks are broadly unchanged in trade on Friday, but have gained a little despite a second consecutive week of crude oil inventory builds, with a U.S. Energy Information Administration (EIA) report on Thursday night showing an unexpected rise in crude stocks.
West Texas Intermediate crude, the US benchmark, is trading just below $54 read more >>>