Oil price may hit $67

Oil price may hit $67
  • Clock-gray 13:40
  • calendar-gray 12 December 2017

Brent crude oil price may hit $67 a barel.

 

APA-Economics reports that two-week shutdown in Forties pipeline over crack caused sharp increase in oil price.

 

The WTI crude oil increased by $0.35 or 0.060% to $58.34 a barrel. At London’s Intercontinental Exchange (ICE), the price of Brent crude soared by $1.55 or 1% to close at $65.69 a barrel.

 

Traders are waiting for release of statistics on US oil reserves. According to results of survey by Bloomberg, US oil reserves declined 3.3 million barrels, gasoline reserves increased 1.5 million barrels. If the factual data is positive for the market, the Brent crude price may hit $67 a barrel.

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