Oil futures gained nearly 2% on Friday as comments from a top U.S. official raised optimism for a U.S.-China trade deal, but worries about increasing crude supplies capped prices.
Benchmark Brent crude gained $1.03, or 1.7%, to settle at $63.31 a barrel, while West Texas Intermediate crude rose 95 cents, or 1.7%, to settle at $57.72 a barrel. Brent and WTI both posted their second straight weekly gain.
U.S. Commerce Secretary Wilbur Ross said in an interview on Fox Business Network on Friday that there was a very high probability the United States would reach a final agreement on a phase one trade deal with China.
Source : Reuters
RELATED NEWS
Crude Oil Lower; OPEC Disputes and Virus Cases Weigh
Friday, 3 July 2020 18:59 WIBOil markets slipped Friday as the resurgence of Covid-19 cases, particularly in the U.S., the largest consumer in the world, threatened the recovery of crude demand. At 7:30 AM ET (11:30 GMT), U.S. crude futures traded 1.2% lower at $40.15 a barrel. The international benchmark Brent contract rose 1...
Oil futures end higher, with U.S. prices at their highest since March
Friday, 3 July 2020 02:08 WIBOil futures settled higher on Thursday, buoyed by a hefty decline in last week's U.S. crude supplies and better-than-expected domestic jobs growth in June. August West Texas Intermediate oil rose 83 cents, or 2.1%, to settle at $40.65 a barrel on the New York Mercantile Exchange. That was the high...
Oil Futures Climb on Shrinking U.S. Crude Inventories
Thursday, 2 July 2020 19:43 WIBCrude-oil prices headed higher Thursday for a second session, as values continued to garner support from a bullish report on U.S. stockpiles this week. The Energy Information Administration reported Wednesday that U.S. crude inventories fell by 7.2 million barrels for the week ended June 26, coming...
Oil futures score a gain for the session as U.S. supplies show biggest weekly drop of the year
Thursday, 2 July 2020 02:15 WIBOil futures settled higher on Wednesday after U.S. government data showed that domestic crude supplies fell by 7.2 million barrels last week, the largest weekly decline so far this year. The fall in stockpiles also followed three consecutive weeks of increases. August West Texas Intermediate oil ro...
Oil rises after sharp drop in U.S. crude inventories
Wednesday, 1 July 2020 18:47 WIBOil prices rose on Wednesday after an industry report showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world. Brent crude rose $1.09, or 2.7%, to trade at $42.38 per barrel, after declining...
Gold futures end lower a day after highest finish since 2011
Gold settles with a gain for the session and shorter week
Gold prices retreat to start July after the notching their highest finish since 2011
Gold Prices Edge Higher as Market Awaits Labor-Market Update
Towards the end of July 2020, Prepare a Buy Option for Gold Futures
Hong Kong Stocks End Week on Strong Note (Review)
Saturday, 4 July 2020 03:45 WIB
Hong Kong shares ended higher Friday, extending the previous day's near-three percent gains, as global markets were boosted by a better-than-expected reading on US jobs creation.
The Hang Seng Index jumped 0.99 percent, or 248.93 points, to...