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Singapore: Oil prices firm on potential producer action to prop up market

  • Aug 15, 2016

Singapore: Oil prices firm on potential producer action to prop up market

Monday, 15 August 2016 – Oil prices edged up early on Monday and have risen more than 10 percent since the start of the month as speculation intensifies about potential producer action to support prices in an oversupplied market.

International Brent crude oil futures were trading at $47.13 per barrel at 0100 GMT (09:00 p.m. EDT), up 16 cents from their last settlement, and over 10 percent above the last close in July.

U.S. West Texas Intermediate (WTI) crude futures were at $44.67 a barrel, up 18 cents from their last close. Read More?