Breaking News

You are here » Indian-Commodity  :  Commodities  :  Crude Oil  :  Crude oil futures end higher on Friday


Crude oil futures end higher on Friday

Crude oil futures ended higher on Friday, supported by the Organization of the Petroleum Exporting Countries (OPEC)-led supply cuts and amid easing concerns about growth in the world's largest economy aided by upbeat US jobs data. Rising optimism about US-China trade talks also supported the oil prices. Besides, Brent crude settled above the psychologically important $70-a-barrel threshold as traders remained focused on signs of tightening global supplies. Meanwhile, a private data showed rise in US crude inventories last week and a report from Baker Hughes said that the number of US oil rigs rose this week after declining in the previous six weeks.

Benchmark crude oil futures for May surged 98 cents or 1.6 percent to settle at $63.08 a barrel on the New York Mercantile Exchange. June Brent crude rose 94 cents or 1.4 percent to settle at $70.34 a barrel on London's Intercontinental Exchange.

Related News

View all news

Crude oil futures end lower on Monday

Crude oil futures ended lower on Monday as steep declines in the US stock market fed an aversion to so-called riskier assets, which include oil. Meanwhile, the US-China trade dispute escalated as China......

Crude oil futures end marginally lower as trade-war worries limit upside

Crude oil futures ended marginally lower on Friday as escalation in the trade war has put a return in global growth worries, which would translate to softer crude demand. The Trump administration early......

Crude oil futures end lower on Thursday

Crude oil futures ended lower on Thursday as hopes for a US-China trade deal faded. Meanwhile, crude-oil production by OPEC edged up by 30,000 barrels a day in April to 30.26 million barrels a day. However,......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......