Crude oil prices regained some ground in early Asia trade Thursday after data showed U.S. crude supply dropped by 2.5 million barrels last week, but bearish sentiment prevails due to an unexpected rise in gasoline stocks.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in August CLQ6, +0.94% at $45.08 a barrel, up $0.58, or 1.3%, in the Globex electronic session. September Brent crude LCOU6, +0.86% London’s ICE Futures exchange rose $0.50, or 1.1%, to $46.76 a barrel.
Prices of oil slumped to a two-month low overnight as traders were spooked by lackluster U.S. oil data, exacerbating concerns that decline in global oil production is happening at a slower pace, keeping the glut high.
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On the New York Mercantile Exchange, light, sweet crude futures for delivery in August CLQ6, +0.94% at $45.08 a barrel, up $0.58, or 1.3%, in the Globex electronic session. September Brent crude LCOU6, +0.86% London’s ICE Futures exchange rose $0.50, or 1.1%, to $46.76 a barrel.
Prices of oil slumped to a two-month low overnight as traders were spooked by lackluster U.S. oil data, exacerbating concerns that decline in global oil production is happening at a slower pace, keeping the glut high.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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