Oil Closes Above $41 After Brussels Attack, Forecast Supply Gain
- U.S. supplies rose 2.53 million barrels in Bloomberg survey
- Libya is said to skip Doha oil-output freeze talks in April
Oil Market Driver: Supply, Demand, or Production Cost?
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Oil closed above $41 a barrel in New York after terrorist attacks in Brussels, amid forecasts that U.S. crude inventories climbed from an 86-year high.
Futures were little changed after earlier falling as much as 1.8 percent following explosions in a Brussels airport departure hall and a subway station. U.S. crude stockpiles are forecast to have risen last week, keeping supplies at the most since 1930. Oil gained Monday after OPEC Secretary General Abdalla El-Badri said that 15 or 16 nations will attend oil-output freeze talks on April 17 in Doha, Qatar.