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Benchmarks On Track For Weekly Gain

  • Crude futures are hovering around neutral levels in Asia-Pac trade, holding Thursday's gains. WTI is down $0.26 from settlement levels at $71.64, Brent is down $0.29 at $73.50; both benchmarks are on track to post weekly gains after recovering from an 8-week low. Both WTI and Brent crude futures traded constructively Thursday, adding to the recovery from the week's low and remaining on course for 10% gains. Gains came despite the more mixed performance from equity markets as traders took the view that OPEC+'s recent agreement will likely fail to meet the demand from a tighter market throughout H2 this year, helping boost and steepen the front-end of the futures curve.

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