Bulls Butt Brent Up Ahead of Opec Meeting

摘要

Brent kept its upward price momentum in light volumes on Tuesday and was pushing close to $40 for the first time since early March as Opec was moving toward an earlier meeting on Thursday with extended output cuts on the agenda (related). In London, the Brent August contract on ICE Futures added another $1.25 for a close of $39.57 per barrel, and the forward curve of the futures contracts suggests this is a near-balanced oil market.