Crude edges up in Asia with American rig count figures ahead

Crude edges up in Asia with American rig count figures ahead

On Friday, oil extended an overnight soar in Asia, with American rig count figures expected to set the overall tone a bit later.

In New York, December delivery gold futures went up 0.48% being worth $54.80 a barrel. At the same time, in London, Brent futures managed to gain 0.15% reaching $60.48 a barrel.

On Thursday, oil settled higher because everlasting OPEC as well as non-OPEC output drops, powered hopes that global crude market rebalancing was already approaching.

Saudi Arabia kept cutting crude output because in October crude inventories went down considerably, while compliance with the OPEC-led initiative to tame output had appeared to be excellent.

Saudi Arabi expressed a desire to keep conducting output curbs, stressing that OPEC should ensure stockpiles keep falling beyond March.

Market participants are going to closely watch crude rig data slated for Friday just to get a deep insight into American crude output and demand.

 

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera