Crude oil futures extended their northward march on Thursday near $50 a barrel, powered by hopes that OPEC can re-balance the global oil market. Investors continued to cheer signs that rising demand will offset excess supplies in the second half of the year amid a larger-than-expected draw in US supplies. News that Saudi Arabia plans to lower crude exports to 6.6 million barrels per day (bpd) in August, almost 1 million bpd below the level last year, kept the spirit high for the traders.

Benchmark crude oil futures for September delivery gained $0.29 or 0.61 percent to $49.04 on the New York Mercantile Exchange. In London, Brent crude for September delivery ended higher by 1.10 percent at $51.53 a barrel on the ICE.

For More Indian Stock Market Tips click here>> http://www.ripplesadvisory.com/services.php.