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WTI reaches ~3-month high as OPEC makes good on cuts
The WTI front-month contract increased $2.87, or 5.4%, last week to settle at $55.59/bbl on Friday. The contract rallied the final four days of the week to reach a nearly three-month high following encouraging supply reductions out of Vienna Pact countries.On Monday, Feb. 11, WTI dropped 31 cents to $52.41/bbl. A strengthening dollar weighed on prices, as higher dollar values make US crude cargos more expensive for foreign buyers, and the lack of a trade deal between the US......
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