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Oil Ends The Day Slightly Higher, up 1.5% For The Week
Saturday, 21 April 2018 02:41 WIB | ENERGY |Minyak WTIOil,Crude Oil

Oil prices settled modestly higher Friday, shaking off earlier short-lived weakness sparked by a tweet from U.S. President Donald Trump, to finish the week with a 1.5% gain.

Trump had blamed OPEC for what he called "artificially high" oil prices, prompting a temporary fall in prices. However, following a meeting of the joint Organization of the Petroleum Exporting Countries and non-OPEC ministerial monitoring committee Friday, there has really been "no change except additional confirmation the Russia and Saudi Arabia will continue to cooperate for the long term," said James Williams, energy economist at WTRG Economics.

May West Texas Intermediate crude rose 9 cents, or 0.1%, to $68.38 a barrel. The contract expired at the day's settlement. June the new front-month contract, added 7 cents, or 0.1%, to settle at $68.40 a barrel.

Source : Marketwatch

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