By Srinivas Chowdary Sunkara // petrobazaar // 16th Oct, 2018.
Brent rose 35 cents with 0.44 pct of increase to $80.78 a barrel while WTI prices edged up by 44 cents to $71.78 per barrel last night. Yesterday's crude markets were fundamentally supported by geo-political statements and retaliation of comments. The political foot ball is being kicked about the 'Middle East' over the missing of journalist after visiting Saudi's consulate. South Korea's move to stop Iran's oil imports gave some confidence to the market. Additional oil rigs into drilling operations were reported on Friday. Apart from that, there doesn't seem to be much more concrete 'news' to predict oil price movement. Market is in more of a situation 'finger in the air', trying to predict on any small breeze. Today, Asian markets are opened up and trading in red at the time of reporting. Good day.
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