Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

NYMEX crude oil holds steeady in Asia with Ukraine in focus

Published 04/24/2014, 08:44 PM
Updated 04/24/2014, 08:46 PM
Crude oil steady in Asia

Crude oil steady in Asia

Investing.com - Crude oil prices held stead in Asia on Friday with events in the Ukraine in focus.

On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $101.92 a barrel, down 0.02%, after hitting an overnight session low of $101.43 a barrel and a high of $102.35 a barrel.

Brent crude on the ICE futures exchange Thursday rose $1.22, or 1.1%, to $110.33 a barrel, the highest price since March 3. Light, sweet crude for June delivery on the New York Mercantile Exchange settled up 50 cents, or 0.5%, at $101.94 a barrel.

Overnight, crude futures rosey after tensions between Russia and Ukraine heated up, with Moscow threatening action if Kiev continues to crackdown on separatists.

Ukraine military forces killed five separatists earlier, while Russian President Vladimir Putin warned Kiev against stepping up its offensive against the rebels.

Concerns that the West may impose new sanctions against Russia stoked fears over possible supply disruptions. Russia is the world’s second largest oil exporter after Saudi Arabia.

Meanwhile in the U.S., positive data sent prices gaining as well.

The Commerce Department reported earlier that U.S. orders for durable goods rose 2.6% in March, beating expectations for a 2% gain.

Core durable goods orders, which exclude volatile transportation items, rose 2% last month, far outpacing forecasts for a 0.6% gain.

Separately, the Labor Department said the number of individuals who filed for unemployment assistance in the U.S. in the week ending April 19 rose by 24,000 to 329,000. Analysts had expected an increase of 5,000.

Despite the increase, underlying trends still point to recovery in the labor market, giving investors room to shrug off the data and stick with oil under the assumption the U.S. economy is on the mend and will demand more fuel and energy going forward.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.