Crude holds small revenues in Asia

Crude holds small revenues in Asia

On Friday, crude prices held revenues in Asia, with the market poised for the latest American weekly rig count figures just to set the overall tone and looking to France’s upcoming presidential elections.

In New York, May delivery crude futures soared 0.14%, hitting $50.78 a barrel, while in London, Brent crude futures surged 0.08%, trading at $53.05 a barrel.

On Friday, oilfield services company Barker Hughes is expected to report weekly rig count data, closely watched as the American shale crude industry's aggressive response to higher prices. The previous week, Baker Hughes told that the weekly American rig count edged up by 11 to 683, for the thirteenth straight weekly surge.

Overnight, oil settled lower on Thursday, as worries over ascending American crude output compensated bullish comments from crude producers on a probable extension to the OPEC-led deal to tame global supply.

The glut in American inventories arose just a day after the EIA’s monthly Drilling Productivity data disclosed that American shale output was set to surge to 5.19 million barrels a day in May.

Similar

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

Crude holds revenues on API estimates

On Wednesday, crude held revenues in Asia because industry estimates revealed a much sharper draw in American crude inventories expected, although higher than seen gasoline stocks affected market sentiment…

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