Oil Markets Firm as Brent Edges Ever Closer to $80 Per Barrel on Tight Market | Today Commodity Market News Outlook 17 May 2018.



Bullion - Opens on negative Note Gold -30965-30975 Silver - 39900-39929 

Energy - Opens on mixed Note Crude Oil - 4850-4840 Natural Gas -190-191 

Base Metals - Opens on positive Note Copper -462.20-462.50 Nickel -982-984 Lead -158.40-158.60 Zinc - 208.80-209 Aluminium -159.10-159.30


Oil prices firmed on Thursday, with Brent crude creeping ever closer to $80 per barrel, a level it has not seen since November 2014, as supplies tighten while demand remains strong.

Brent crude futures were at $79.32 per barrel at 0027 GMT, up 4 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $71.68 a barrel, up 19 cents, or 0.3 percent, from their last settlement.


ANZ bank said on Thursday that Brent was "now threatening to break through $80 per barrel ... (as) geopolitical risks continue to support prices, (and) an unexpected fall in inventories in the U.S. got investors excited yesterday."

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