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- Oil traded slightly higher
Oil traded slightly higher
This morning the New York futures for Brent rose 0.63% to $ 56.16 and WTI rose by 0.45% to $ 54.02. Thus, the black gold prices traded slightly up while still showing a sluggish trend. On the one hand production cuts support the prices, on the other hand the dynamic of stocks growth in the US put pressure on the quotes. As reported previously by the Energy Information Administration, for the week ending February 10, oil reserves in the US rose by 9.5 million barrels to 518.1 million barrel.
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