Expectations for an OPEC freeze production still drive the oil markets.
Monday’s comments of Russian officials, implying a potential agreement, echoed in today’s trading session and moved oil towards the highest levels of the last month.
WTI settled for a second consecutive day 2% higher at 46.58 per barrel a little before API reports inventory statistics.
A weak US dollar was also supportive of oil prices.
Market will be looking at tomorrow’s EIA report on inventories with expectations for a draw of approx. 300k barrels.
Bunker prices were firm again today.
