By Srinivas Chowdary Sunkara // petrobazaar // 11th January, 2019.
Brent rose $0.23 to close at $61.68 and WTI gained $0.23 to settle at $52.59 a barrel last night. Both the crude futures ticked up modestly yesterday, Extending winning streak into a ninth trading session. Oil markets closely followed the equity swings as the financial markets soared up on the hopes of soothing trade wars. The comment by federal reserve chairman also accommodated optimism in financial markets which helped to boost riskier asset classes including oil. The lack of clear resolution from U.S – China trade talks and weak Chinese economic data along with the swelling product inventories and crude output in U.S worried the oil market. Oil futures are heading towards weakly gains without any significant change in the fundamentals during the week. Asian markets are opened down today. Good day and week to all.
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