Oil prices surpassed $50/barrel for the first time in 2 months

Oil prices surpassed $50/barrel for the first time in 2 months

Currently, Brent oil futures for October delivery in the first time exceeded $50/barrel, the highest level since Brexit in June.

EconomyVN - Data of US gasoline reserves reduced, this has the positive impact, helping oil prices gained strongly on the market, including Brent oil prices for October delivery in the first time exceeded $50USD/barrel, the highest level since Brexit in June.

On the Asian market, Brent prices fell slightly but remained at $50.8/barrel. WTI light sweet crude oil prices also rose by 0.27%. Oil prices will likely keep upward trend, following news that the Petroleum Exporting Countries prepare to agree on output restrictions.

Rising oil prices also helped the Asian major indexes such as Japan's Nikkei 225, Hang Seng of Hong Kong (China) and South Korea's Kospi rose early today (August 19th), but did not last later.

Thong Le

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