OIL MARKET UPDATE NEWS

Oil prices were stable in early trading on Friday, supported by strong demand and global supply disruptions, but a stronger dollar kept crude below the 2016 highs reached this week. 

 

International Brent Crude oil futures were trading at USD 51.96 per barrel at 0101 GMT, up 1 cent from their last settlement. US West Texas Intermediate (WTI) futures were flat at USD 50.56 a barrel.

 

 "Oil prices eased back from a near 12-month high as the dollar reversed its recent trend," ANZ bank said on Friday.

 

Crude prices have virtually doubled since hitting decade lows in early 2016 as strong demand and supply disruptions erode a glut that had pulled down prices by as much as 70 % between 2014 and early 2016. call us :- 9827808090

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