The first glimmer of hope in oil industry
Observing news today one can easily get disappointed. However, things are getting better.
Oil rebounds in Asia with eyes on OPEC gathering
On Monday, oil rebounded in Asia ahead of a July 24 gathering on OPEC as well as allies to review progress on output drops.
September delivery American West Texas Intermediate crude futures leapt 0.15% hitting $45.84 a barrel. In London, September delivery Brent crude futures grew 0.21% being worth $48.16 a barrel.
On Wednesday, the major US bank will provide its fresh view on rates ahead of the first look at American second quarter surge on Friday.
Last week, on Friday, oil prices settled lower for the second trading session in a row, concluding at its weakest level in nearly a week because market sentiment soured amid signs that supply from OPEC was braced for climbing notwithstanding the cartel's agreement to tame output.
On Friday, crude declined after tanker-tracking firm PetroLogistics informed that in July crude output from OPEC members was expected to soar by 145,000 barrels a day from last month.
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Analysts: how about $20 for Brent oil?
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
Latest news
OIL: it started
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.
Coronavirus impact on US labor market: latest news
27,000 people became unemployed in private sector
Employment data may make the USD volatile
The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.
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