By Srinivas Chowdary Sunkara // petrobazaar // 23rd July, 2018.
Brent closed at $73.07, $0.49 increase while WTI inched up $0.01 at $70.46 on Friday. We have passed through another volatile week, triggered by supply concerns. U.S oil and Brent posted a jump of 3.49 pct and 1.71% respectively during the week.
Last week, A statement on Saudi's fall in exports overshadowed rising dollar. NYMEX was supported by Powell reiterating that the U.S economy was healthy. IEA warned that global energy investment fell by 2% in 2017 and cautioned that world is not spending enough on energy. Rig count is at 858 as the drillers took out 5 oil rigs in the week to July, 20th.
Oil prices opened mixed today in Asian markets on G20 Ministers warned that the risk to global growth have increased among the Geo-political tensions. Bulls, get ready for a break as the summer holiday season began. Good day.
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