Friday, June 10, 2016

Oil Market Update : Epic Research Singapore

Oil futures rose Wednesday, with the U.S. benchmark posting a nearly 11-month closing high, as crude found support from continued supply disruptions, China import data and a decline in crude inventories.

On the New York Mercantile Exchange, West Texas Intermediate crude fo
r July delivery CLN6, -0.24%  rose 87 cents, or 1.7%, to settle at $51.23—the highest close for a nearby contract since July 15.

August Brent crude LCOQ6, -0.10% the global oil benchmark, rose $1.07, or 2.1%, to finish at $52.51 a barrel on London’s ICE Futures exchange, its highest close since October.

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