Crude prices stand still in Asia as markets look to producers' meeting

Crude prices stand still in Asia as markets look to producers' meeting

On Friday, crude prices settled down during Asia trade having hit month-long peaks overnight and ahead of a gathering of the crude producers on Monday.

September delivery West Texas Intermediate futures were intact, losing no more 0.02% and keeping to $46.91. As for September delivery Brent crude futures, they also dipped just 0.02% being worth $49.29.

On Thursday, crude prices soared after American crude inventories dived 4.73 million barrels by July 14, as the EIA posted. As for gasoline inventories, they shrank by 4.4 million barrels.

Thursday’s crude soar, which took the commodity’s prices to peaks not observed since June 7, was also driven by hopes that crude producers might reduce supplies. OPEC as well as non-OPEC producers are expected to meet in Russia on Monday and traders are waiting for any clues that Saudi Arabia, the leading producer of crude, might cut its output.

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…

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