By Srinivas Chowdary Sunkara // petrobazaar // 14th January, 2019.
On Friday, Brent prices fell $1.2 to settle down at $60.48 and WTI futures lost $1 to close down at $51.59 a barrel. Crude futures lost around 2 % on Friday, Snapping the nine day winning streak, clung to some gains to close with weekly gains for the straight second week in a row.
On Last Monday, Crude markets opened with a strong sentiment spurred by the expected prospects from U.S-China trade talks. Oil prices received support from rhetoric words from producers club to rein in over supplies and strong financial markets along with weak dollar during the week. This week, Oil markets are very likely to focus on monthly oil reports apart from weekly numbers which may spur some volatility. Baker Hughes reported a fall of 4 nos of U.S oil rigs to 873 this week. Asian markets are opened down as investor worries on slowing economies from the U.S to Europe and China. Good day.
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