Sunday, December 01, 2024
name of Prensa Latina
Bandera inglesa
English Edition
Search
Close this search box.
name of Prensa Latina

NEWS

NEWS

Oil prices stable

London, Nov 27 (Prensa Latina) Commodity traders reported today stability in oil prices following a truce agreed between the parties regarding the conflict in the Middle East.

They added that the values ​​were balanced, while markets evaluated a ceasefire agreement between Israel and Hezbollah.

This occurred at the same time as the Sunday meeting of the Organization of Petroleum Exporting Countries and its allies (OPEC+) was anticipated, in which the group could delay a planned increase in crude oil production.

The European reference Brent crude futures rose 32 cents, 0.44 percent, to $73.13 a barrel, while the American West Texas Intermediate crude rose 33 cents, 0.48 percent, to $69.10.

The heads of commodity research at Goldman Sachs and Morgan Stanley said oil prices are undervalued, citing a market deficit and the risk to Iranian supplies from possible sanctions under the administration of US President-elect Donald Trump.

ef/ro/rfc

LATEST NEWS
RELATED