Oil prices mixed in thin trading

Dhaka,  Thu,  27 July 2017
Published : 18 Apr 2017, 13:13:35
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Oil prices mixed after US production seen rising

Oil prices mixed in thin trading
Crude oil prices were mixed in thin trading on Tuesday after the Easter holiday break shut many markets for as long as four days.

The US government report indicated rising production, which may keep a cap on prices after recent gains.

Benchmark Brent crude futures were up 5 cents at $55.41 at 0058 GMT. They ended a quiet session on Monday down 53 cents at $55.36, after rising the three previous weeks.

US West Texas Intermediate (WTI) crude futures were down 1 cent at $52.64 a barrel. They settled down 53 cents at $52.65 a barrel.

The benchmark for US oil had also risen for three straight weeks through Thursday, before the Easter break.

OPEC is due to meet on May 25 to weigh an extension of output cuts beyond June to alleviate a glut that has depressed prices for nearly three years.

Still, Saudi Arabia's energy minister has said it was too early to discuss an extension, reports Reuters. 
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