“Yesterday was a typical price action you see during IP Week when you have a headline,” said Olivier Jakob, oil analyst at Petromatrix. “But I don’t think it will change anything in current OPEC supply policy.”Oil up towards 2019 highs on supply, trade talks optimismBrent crude, the global benchmark, rose $0.24 to $65 by 1139 GMT, after losing 3.5% on Monday. Expectations that US crude inventories had risen for a sixth straight week limited the rally. US crude stocks were seen 3.6 million barrels higher in weekly inventory reports, underlining that supply is adequate in the world’s top consumer. Oil hovers near 2019 highs amid OPEC cutsOil broker PVM took a similar view.

Source: The Express Tribune February 26, 2019 15:11 UTC