CNBC
•83% Informative
Oil prices climbed to their highest level of the year this week , extending a rally that has put a return to $ 100 a barrel sharply into focus.
Some analysts believe crude prices could hit this milestone before year-end .
International benchmark Brent crude futures traded at $ 93.90 a barrel on Friday morning in London , around 0.2% higher.
"From a technical perspective, Brent has been in a bullish uptrend since July and needs to hold support at $ 89 as a break may trigger long liquidation towards $ 87.5 from traders who bought the production cut extension news," he added. "However, the medium-term uptrend is still firm with trendline support near $ 85 , potentially being the bottom of a new higher range supported by OPEC 's active management of supply." — CNBC 's Michael Bloom contributed to this report..
VR Score
87
Informative language
87
Neutral language
62
Article tone
semi-formal
Language
English
Language complexity
43
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
2
Source diversity
2
Affiliate links
no affiliate links