US oil prices end above $60 for 1st time in 2-1/2 years

NEW YORK: US oil costs completed above $60 a barrel out of the blue since June 2015 after new information proposed American makers were being mindful about sloping up yield.

The benchmark US contract, West Texas Intermediate for February conveyance, climbed 58 pennies to complete at $60.42 a barrel. In the mean time, Brent North Sea unrefined for March conveyance progressed 71 pennies to $66.87 a barrel.

The hop came as the quantity of US rigs penetrating for oil held consistent at 747 this week, as indicated by the Baker Hughes fix tally, a nearly watched benchmark of industry movement discharged Friday.

Phil Flynn, of the Price Futures Group in Chicago, said it was not clear from the information whether the level number of boring apparatuses mirrored "a finish of the year log jam," or "a sign that possibly makers are not creating that much."

The information go ahead foot rear areas of a bullish US oil stock report that indicated bring down raw petroleum supplies and also a plunge underway, as per the week by week Energy Department information discharged Thursday.

The cost increment likewise takes after a choice by the Organization of the Petroleum Exporting Countries to broaden its concession as far as possible through 2018.

Specialists have been looking for indications of whether the OPEC assention triggers expanded boring among US shale makers. – AFP