Crude prices tack on in Asia

Crude prices tack on in Asia

On Friday, oil soared in Asia with market sentiment backed by an everlasting rebalance of demand and supply, not to mention geopolitical tensions as for rumblings for Kurdish independence in Iraq.

Additionally, later on Friday market participants are waiting for the Baker Hughes rig count for the anticipated weekly update on the number of American rigs drilling for crude.

In New York, November delivery crude futures grew 0.04% reaching $51.58 a barrel. In London, Brent futures soared 0.02% hitting $57.27 a barrel.

Overnight, oil settled lower because investors happened to unwind some of their bullish bets on oil, although market sentiment on crude was still upbeat reacting to inventory data on Wednesday demonstrating a sudden draw in crude supplies.

Crude dived because market participants took profit on the recent soar that has seen crude prices reached multi-month peaks on hopes that higher global demand would push the market closer toward rebalancing.

Similar

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

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