crude oil futures quotes

crude oil futures quotes

February 2nd, 2017

Crude oil futures were higher during North American morning hours on Thursday, hitting the strongest level in about a month as traders cheered signs that global supply was beginning to tighten in wake of a planned agreement by major crude producers to cut output.

Crude oil for March delivery on the New York Mercantile Exchange rose to a daily peak of $54.34 a barrel, the most since January 3.

It was last at $54.10 by 9:50AM ET (14:50GMT), up 21 cents, or about 0.4%, after jumping $1.07, or around 2%, a day earlier.

Elsewhere, Brent oil for April delivery on the ICE Futures Exchange in London added 29 cents, or 0.5%, to $57.09 a barrel. Futures touched $57.45 earlier, a level not seen since January 6.

On Tuesday, London-traded Brent rallied $1.22, or 2.2%, after data showed that Russian oil output shrank by 100,000 barrel per day in January, adding to signs that major oil producers are sticking to their pledge to cut back output.

Continue reading »