Brent crude holds near $70 as hopes rise on demand recovery
Brent crude futures decline as production cuts by major oil producers limit supply
12 March 2021 - 07:42
Singapore — Brent crude prices eased on Friday but hovered near $70 a barrel as production cuts by major oil producers constrained supply, with optimism about a recovery in demand for the resource in the second half of the year also lending support.
Brent crude futures for May slipped 17c, or 0.2%, to $69.46 a barrel by 1.09am GMT while US West Texas Intermediate crude for April was at $65.79 a barrel, down 23c, or 0.4%...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.