Prices for both crude benchmarks were seen above the $50 mark, with futures for the North American West Texas Intermediate (WTI) climbing 1% higher to $50.04, while the European benchmark Brent crude added 1.2% to $50.34 a barrel; the highest level seen since November. Read more
On Friday, oil prices were seen near 2016 highs; boosted by the weaker US dollar. The market will also be focusing the weekly report on US rig counts due to be released later in the day.
Crude futures were seen trading higher on Friday, advancing for a fifth week in a row, boosted by speculation that major producers may strike a deal sooner than expected. Read more
Crude oil prices were seen falling after rising the day before, while traders digest the weekly stockpiles data.
Prices for the North American West Texas Intermediate (WTI) crude fell 0.52 lower to $38.08 per barrel on the New York Mercantile Exchange at the time of writing. The European benchmark Brent crude slipped 0.73% lower to $40.77 a barrel on the London-based ICE Futures Europe exchange. Read more
Oil prices remained in the red territory on Thursday as the commodity extended losses after the latest stockpiles report revealed a higher demand for gasoline but record high crude reserves. Analysts warn the session could be extremely volatile. Read more
