Thursday, May 5, 2016

Oil Market Update : Epic Research Singapore

Crude-oil futures pivoted late Wednesday to finish modestly higher and end a string of three straight down days, capping a volatile session amid fresh worries about a supply glut in crude.

On the New York Mercantile Exchange, West Texas Intermediate futures CLM6, +2.01%  closed 13 cents, or 0.3%, higher at $43.78 a barrel. WTI had been nearly 3% higher on the day and down by nearly 1%.

Meanwhile, Brent crude for July delivery LCON6, +1.55% the global oil benchmark, ended down 35 cents, or 0.8%, to $44.62 a barrel on London’s ICE Futures exchange. Brent oil had been as high as $46.01 a barrel on the day.

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