Brent crude tops $50 a barrel for first time since November

International oil prices rose to their highest levels in six months on Thursday, as the recent decline in U.S. crude stocks raised expectations for a tightening in the market amid lower global supply.

Brent LCON6, +0.70%  , the international benchmark for oil, rose 30 cents to $50.04 a barrel in morning Asian trade, its highest point since the beginning of November. U.S. oil prices traded on the New York Mercantile Exchange CLN6, +0.61%   rose 29 cents to $49.85 a barrel.

Persistent oversupply has kept prices well below highs of $100 a barrel reached two years ago. The price collapse has prompted energy companies to withhold investment — especially in the upstream sector — resulting in a slowdown in global output growth. Ongoing supply disruptions in North America and Africa, as well as dwindling output from Latin America, have also pushed prices higher.

For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my