Oil Rises To $51 After Steep Slide; Growth Fears Weigh
Wednesday, 26 December 2018 19:16 WIB | ENERGY |MinyakBrentMinyak MentahOil,

Oil rose to $51 a barrel on Wednesday on perceptions that a price slide to 2017 lows prompted by economic worries had been overdone amid an OPEC-led effort to tighten supply.

Crude has been caught up in wider financial market weakness as the U.S. government shutdown, higher U.S. interest rates and the U.S.-China trade dispute unnerved investors and exacerbated worries over global growth.

Brent crude, the global benchmark, was up 70 cents at $51.17 at 1120 GMT. It earlier fell to $49.93, the lowest since July 2017, and posted a 6.2 percent slide in the previous session.

U.S. crude was up 68 cents at $43.21.

Source : Reuters

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