Crude Firm on Istanbul Energy Conference Comments

by George Belekos, KPI Bridge Oil
Monday October 10, 2016

Comments coming from an energy conference in Istanbul had the bulls out and running today.

Saudi Arabi's energy minister mentioned that $60/bbl is not out of the question if OPEC can agree on terms next month.

This followed after Russian Presdient Putin voiced support of a cap in production and encouraged others outside of OPEC to join the agreement.

Though prices are trending up there remains much doubt if an agreement will be put in place and to what effect on supplies it will have.

Bunker prices were firm in the primary ports.

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