TheBateman schreef op 25 september 2017 22:22:
https://www.ft.com/content/1ad15088-a1ec-11e7-9e4f-7f5e6a7c98a2
Brent crude oil rose above $59 a barrel on Monday to its highest in more than two years, lifted by fast-growing demand and a threat to Iraqi Kurdistan’s crude exports as the autonomous region holds a referendum on independence.
BP’s top oil trader in Asia said the crude market had turned a corner after a three-year slump, with consumption boosted by lower prices and excess inventories finally declining thanks to Opec’s efforts to cut production.
“The market is in rebalancing mode,” said Janet Kong, speaking at the FT Commodities Asia Summit in Singapore on Monday. “We are at a juncture where we are going to see continued inventory draws.”
Brent, the international benchmark, rose 3.8 per cent to settle at $59.02 a barrel, its highest closing price since July 2015.
It has gained more than 30 per cent since June as global stockpiles have tightened, with demand in industrialised countries expanding alongside emerging markets for the first time in almost a decade.
West Texas Intermediate, the US benchmark, climbed 3.1 per cent to $52.22 a barrel, the highest level since April.