Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Crude gains in Asia as markets look ahead to supply/demand cues

Published 02/20/2017, 09:42 PM
Updated 02/20/2017, 09:43 PM
© Reuters.  Crude higher in Asia

Investing.com - Crude edged higher in Asia on Tuesday coming off light overnight activity and with investors attuned to data this week on the supply/demand balance.

Global benchmark Brent for April delivery on the ICE Futures Exchange in London was last quoted up 0.25% to $56.27 a barrel. crude oil for April delivery on the New York Mercantile Exchange inched rose 0.52% to $54.06 a barrel.

Overnight, oil prices edged higher in a familiar trading range during North American morning hours on Monday in electronic trading as U.S. markets were closed for President’s Day on Monday, as market players continued to weigh the prospect of production cuts by major crude-producing nations against a rise in U.S. drilling.

Fresh weekly information on U.S. stockpiles of crude and refined products on Wednesday and Thursday will be closely watched to gauge the strength of demand in the world’s largest oil consumer. The reports come out one day later than usual due to Monday's President's Day holiday. Meanwhile, traders will also continue to pay close attention to comments from global oil producers for further evidence that they are complying with their agreement to reduce output this year.

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.