Oil: Prices headed northwards – Danske Bank

Sandeep Kanihama FXStreet Contributor

Danske Bank analysts point out that the price of Brent crude briefly tested the USD72/bbl level overnight.

Key Quotes

“Oil prices rose on the weekly inventory numbers from the American Petroleum Institute, which was said to report that US crude stocks dropped 3.1mb last week.”

“In addition, the forthcoming expiry of Iran sanctions waivers continues to attract attention in the oil market, with reports of countries looking for other sources for crude oil imports.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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