This week, oil prices officially charged into a bull market as the prospect of an output freeze by major producers, data showing the first weekly fall in U.S. crude supplies in a month and a decline in the dollar boosted prices.
Crude-oil prices have advanced more than 20% from their Aug. 2 low over the past several sessions, signifying a bull-market run.
On Friday, September West Texas Intermediate crude CLU6, -1.90% edged up by 30 cents, or 0.6%, to settle at $48.52 a barrel on the New York Mercantile Exchange. That is nearly 23% above the recent settlement low of $39.51 on August 2. Oil marked its entry to the bull market on Thursday, when it spiked by more than 3% to its highest settlement since July 1.
Click here for Free Signals 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
No comments:
Post a Comment