Oil prices officially charged into a bull market Thursday as the prospect of an output freeze by major producers, data showing the first weekly fall in U.S. crude supplies in a month, and a decline in the dollar boosted prices.read more here.
Crude-oil prices have advanced more than 20% from their Aug. 2 low over the past several sessions, signifying a bull-market run.
September West Texas Intermediate crude CLU6, +0.06% climbed by $1.43, or 3.1%, to settle at $48.22 a barrel on the New York Mercantile Exchange. That is 22% above the recent settlement low of $39.51 on August 2. Prices Thursday logged a sixth-straight session gain.
Thursday, August 18, 2016
Oil prices charging ahead
Myra Saefong reports at Market Watch,
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