Crude Oil Futures End Higher Despite Rise In US Oil Rigs

-

Rising for the third straight day, Crude oil futures ended higher on Friday, following higher US stock market and investors covered short bets ahead of a weekend in which the US news program ‘60 Minutes’ will air an interview with Saudi Arabia’s crown prince. Traders overlooked US oil rigs data, which showed that US oil rigs resumed their advance, pointing to a potential uptick in US oil output. According to data from energy services firm Baker Hughes, the number of oil rigs operating in the US rose by four to 800. Besides, brent crude futures hit their highest in more than two weeks.

 

Benchmark crude oil futures for April delivery rose $1.15 or 1.9 percent at $62.34 a barrel on the New York Mercantile Exchange. May Brent crude gained $1.09 or 1.7 percent to settle at $66.21 a barrel on London’s Intercontinental Exchange.

 

Get Daily Commodity Tips So Give A Missed Call @ 7089009189 And Like This Page >> Investment Visor.

Comments

Post a Comment

Popular posts from this blog

Equity Tips:- World`s Biggest Gold ETF Launching New Low-Fee Fund

-
Image
The World Gold Council, owner of the world's largest gold-backed exchange traded fund (ETF), is launching a new fund with a cut-price management fee to fend off rivals with lower charges, a source familiar with the matter.   The move is a sign that cost competition among gold ETFs is heating up after a price war in the much larger equities ETF sector slashed management fees. Gold ETFs allow buyers to invest in physical gold without having to buy and store the metal.   The council's SPDR Gold Trust , which launched in 2004 and trades using the ticker GLD, dominates the industry but its share of total bullion held by gold-backed funds has slipped below 50 percent from 75 percent at the start of the decade, Reuters data show.   Get Commodity Tips So Give A Missed Call @ 9039001060 And Like This Page >> Investment Visor .
Read more

Commodity Tips:- Crude Oil Futures Settle Near 3-Year Highs

-
Image
Crude oil futures to their highest since November 2014, picking up 2.4% for the week, as rising worries over the economic crisis in Venezuela and possible new sanctions against Iran increased the potential for tighter global crude supplies and sent prices back to their highest settlement since late 2014. Venezuela and Iran are both members of the Organization of the Petroleum Exporting Countries. An OPEC survey conducted by S&P Global Platts showed Friday that the group’s crude production in April fell for a third straight month to a one-year low. It produced 32 million barrels a day last month, down 140,000 barrels a day from March, with the survey attributing the drop to Caracas falling output.    Benchmark crude oil futures for June delivery jumped by $1.29 or 1.90 percent to settle at $69.72 a barrel on the New York Mercantile Exchange. July Brent crude gained $1.25 or 1.70 percent to settle at $74.87 a barrel on London’s Intercontinental Exchange. ...
Read more