Oil prices are recovering on Wednesday morning gaining support as oil cartel Opec is following through with planned output cuts and in the wake of Tuesday's decline as the newly ratified US stimulus package disappointed the market, players said.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 45.15/bbl on the ICE platform, up 54 cents on Tuesday's close.
On Tuesday, Brent for March delivery traded as high as USD 48.22/bbl, but settled at USD 44.61/bbl, down USD 1.41 day on day as the USD 832bn US stimulus package failed to convince players commodities markets could be kick-sta
Mittwoch, 11.02.2009, 09:08 Uhr
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