Crude inches up as markets consider busy data week

Crude inches up as markets consider busy data week

On Monday, oil tacked on in Asia, with market participants paying attention to quite busy week of data points on demand and supply.

American West Texas Intermediate crude futures rallied 0.26% being worth $49.42 a barrel. At the same time Brent futures added 0.20% trading at $55.73 a barrel.

Japanese markets are still unavailable, while China returns from a week-long holiday.

In the week ahead, investors will closely watch fresh weekly data on American stockpiles of crude as well as refined products on Wednesday and Thursday in order to further assess the real impact of recent storm activity was on demand and supply.

The reports emerged one day later than usual because of the Columbus Day holiday in the USA on Monday.

Besides this, crude traders are going to focus on monthly data from the OPEC members and also the International Energy Agency to evaluate global crude supply as well as demand levels.

Similar

Brent overleaps $65 for the 1st time since 2015

On Tuesday, Brent crude futures rallied above $65 a barrel for the first time since 2015 following the shutdown of the Forties North Sea pipeline, which knocked out considerable supply from a market, which was already tightening because of OPEC-led…

Gold sinks moderately in Asia

On Tuesday, gold sank a bit in Asia, with language from the Federal Reserve after its Wednesday’s rate announcement considered to be key for direction…

Popular

promotions you can be interested in

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

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