Oil Price Increases In Asia Trade

SINGAPORE: Oil prices were above 72 dollars in Asian trade on Friday following an overnight rally which saw the market buoyed by strong performances on Wall Street and a weakening US dollar, analysts said.

New York’s main futures contract, light sweet crude for October delivery, was up 13 cents to 72.62 dollars a barrel. Brent North Sea crude for delivery in October was unchanged at 72.51 dollars.

“Oil market sentiment benefited from a recovery on US equity markets,” the Commonwealth Bank of Australia said in a report.

You might also like

Wall Street Rally, Japan Data Lift Asian Stocks A strong showing on Wall Street and a massive jump in Japan’s trade surplus boosted Asian markets Wednesday...

Oil Dips On Eurozone Debt Woes SINGAPORE : Oil prices fell in Asian trade on Tuesday as persistent concerns over the eurozone reversed...

Gold Price Increases In Local, Int’l Markets An increasing trend was witnessed in local and international gold markets. Gold prices increased to...

World Trade Output Five Year High NEW YORK: Global trade rose at its fastest rate touching the highs in more than five years in this July. According...

Tags: asia trade australia brent-north business news designers dugard equity-markets north street trade victim