WTI And Brent Higher Amid Strikes on Norwegian Oil And Gas Rigs

Tuesday, 10/07/2018 | 08:19 GMT

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WTI and Brent prices moved higher +0.50% at $74.20 and $78.50 respectively on early European trading session amid possible worker strikes on Norwegian oil and gas rigs later today and ongoing oil disruptions in Canada, Libya and Iranian oil sanctions.

An approximate number of 700-2.500 oil workers in Norwegian oil and gas offshore rigs will go for strike later today after failure to agree on proposed wage deal with the local unions, influencing almost 100.000 barrels of daily production.

The ongoing oil supply disruption from Canadian Syncrude’s Oil sands facilities will continue until end of month, removing almost 360.000 barrels per day from the market.

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Source: https://www.exclusivecapital.com/wti-and-brent-higher-amid-strikes-on-norwegian-oil-and-gas-rigs/

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