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Little Movement Early In Asia

OIL

WTI and Brent crude futures sit a handful of cents lower on the day at typing, after finishing little changed on Thursday. The supply side headwinds that we flagged on Thursday (notably surrounding U.S. Gulf production coming back online, albeit slowly, and Libyan exports returning) provided some pressure for crude through early NY trade, with the usual round of profit-taking talk and uptick in the USD also weighing. Still, a recovery in U.S. equity indices as we moved through the day seemed to allow crude to end the session on a near enough neutral footing.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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