Oil Surges Towards $60 ...Middle East

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Oil Surges Towards $60
source : OILPRICE ( Middle East ) () 10
Brent is closing in on $60 per barrel for the first time since January 2020, fueled by declining inventories in the U.S. and China and production constraints Friday, 5 February, 2021 Brent is closing in on $60 per barrel for the first time since January 2020. Crude inventories in both China and the U.S. declined this week, offering more evidence of a tightening market. “The physical market is also looking increasingly tight,” said Eugen Weinberg, head of commodities research at Commerzbank AG. Shell profits drop, but boosts dividend.…

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