Oil futures ended lower in a choppy trading session Tuesday, unable to overcome doubts that a major global agreement to freeze production will be reached this month, and as traders await weekly U.S. supply data.On the New York Mercantile Exchange, light, sweet crude futures for delivery in May CLK6, +2.65% ended with a gain of 19 cents, or 0.5%, at $35.89 a barrel, bouncing back after settling at a one-month low on Monday. June Brent crude LCOM7, +1.11% on London’s ICE Futures excha
nge rose 18 cents, or 0.5%, to $37.87 a barrel.
Oil futures rallied last month on expectations that major oil players inside and outside of the Organization of the Petroleum Exporting Countries were inching toward a collective production freeze at January levels. However, the gains evaporated in the past few days after Saudi Arabia said Friday it would only freeze production if Iran follows suit. Major oil producers are set to meet April 17 to discuss an output pact.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment