empty
 
 

2018.09.2106:32:00UTC+00Oil Prices Rise As Supply Worries Resurface

Oil prices edged higher on Friday after falling the previous day as U.S. President Donald Trump urged OPEC to lower crude prices, days before the OPEC meeting in Algeria.

Global benchmark Brent crude for November delivery was up 75 cents or 0.95 percent at 79.44 a barrel while U.S. crude oil futures were up 0.71 percent at $70.81 a barrel.

Prices remained supported by concerns of supply shortages amid looming U.S. sanctions against Iran's petroleum industry, which are set to take effect in November.

Trump on Thursday called on the Organization of the Petroleum Exporting Countries to lower oil prices, saying on Twitter "the U.S. protects the countries of the Middle East, and it was unfair that they continue to push for higher and higher oil prices."

OPEC and its allies are scheduled to meet on Sunday to discuss how to discuss production increases as U.S. sanctions restrict Iranian exports.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback