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Increasing Demand Sets Higher Global Oil Prices

Translator

Editor

30 September 2017 15:56 WIB

Traders work on the floor of the New York Stock Exchange (NYSE) on January 12, 2015 in New York City. Falling oil prices dragged the stock market lower on Monday as Exxon Mobil, Chevron and other big energy companies sank along with crude. Spencer Platt/Getty Images

TEMPO.CO, New York - The price of crude oil ended uprising on Friday, Sept. 29, at the last day of sales in the third quarter, since investors estimated new demand from United States refineries.

In the US, the price of light sweet or West Texas Intermediate (WTI) crude oil for November shipping increased $0.11 at the price of $51.67 per barrel in New York Mercantile Exchange.

Meanwhile in Europe, the price of Brent North Sea crude oil for November shipment raised $0.13 dollars at the price of 57.54 dollars per barrel in London ICE Futures Exchange.

The price of the US crude oil rose 12 percent on the third quarter, while the price of Brent crude oil increased almost 10 percent in September.

The oil prices went up amid the expectation of new demand from the US refineries which will be back in operation after Storm Harvey.

ANTARA

Oil and gas


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