Oil Rebounds From 7-Month Low as Saudi Arabia Starts Talks to Halt Price Decline
Thursday, 8 August 2019 18:45 WIB | ENERGY |BrentMinyak WTI

Oil underwent a solid rebound from seven-month lows on Thursday as Saudi Arabia reportedly took action to halt a steep decline in prices.

New York-traded West Texas Intermediate crude futures gained 89 cents, or 1.7%, to $51.98 a barrel by 7:24 AM ET (11:24 GMT), while Brent crude futures, the benchmark for oil prices outside the U.S., rose 63 cents, or 1.1%, to $56.86.

In other energy trading, gasoline futures advanced 1.1% to $1.6375 a gallon by 7:25 AM ET (11:25 GMT), while heating oil rose 0.5% to $1.7627 a gallon.

Lastly, natural gas futures traded up 1.5% to $2.114 per million British thermal unit.

Source: Investing.com

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