Today morning, Brent was trading at a good $45 per barrel and WTI was at a good $42 per barrel. The oil prices increased by $2 within a matter of minutes yesterday.
Yesterday's price rise came on the back of news that Saudi Arabia will to cooperate with OPEC and non-OPEC countries to bring stability on the oil market as well as oil prices.
Analysts assume that Saudi Arabia may cut production at next week's OPEC meeting. But such assumptions are premature, says Commerzbank.
(c) 2015 Mehr News Agency Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers