Brent crude oil neared $60 per barrel on the....>

OIL: Brent crude oil neared $60 per barrel on the overnight and sweet crude oil

reached $52.86, crude oil has come down slightly since to $52.61 but holding at

its highest levels seen this month. 

- The huge demand for oil on the overnight came after Saudi Crown Prince

Mohammed Bin Salman offered support for the extension of supply cuts determined

by OPEC saying in an interview with Bloomberg that the cuts would bring benefits

for OPEC and non-OPEC producers.

- Baker Hughes rig count figures to look to 1800 ET Friday.

- MNI Technical analysis sees support for Crude oil at $52.30 - Hourly support

Oct 26 and resistance at $52.86 - High Oct 26. Bulls take comfort in pressure

returning to the $53.11 resistance with the $53.11-73 resistance region

remaining key. Bulls need a close above $53.11 to reconfirm a bullish bias and

above $51.73 to shift focus to $55.03-12 where the daily bull channel top and

Apr highs are situated. The 21-DMA remains key with bears needing a close below

to ease immediate bullish pressure and shift focus to $50.13-87 where the 55

($50.20) & 200 ($50.61) DMAs are noted.