Oil Prices Remain Strong Even Though OPEC May Raise Output
BonTradeOil prices remained strong in European session today although OPEC might announce to raise oil supply today. Current price actions suggest the decision will not dampen recent rallies. WTI crude oil for April delivery rallied to 98.48 earlier today. Currently trading at 98.58, the WTI crude contract is at a -10.8 discount to corresponding Brent contract. Precious metals pulled back with the benchmark Comex gold contract falling to 1398 after climbing to 1376.4.
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Oil Prices Remain Strong Even Though OPEC May Raise Output
