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Oil Opens Gap With Cycle Highs


Both WTI and Brent crude futures trade lower in early Friday trade, with losses of around 1.5% apiece. A stronger dollar is partially responsible, but a more general sense of risk-off and profit-taking is driving markets so far.

Given the pullback in equities this morning, gold is benefiting - spot gold remains pinched between the 200- and 50-dma directional parameters, today crossing at $1843.56 and $1863.61 respectively.

US data takes focus going forward, with retail sales, PPI and Uni. of Michigan numbers the highlights.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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