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Oil's resurgence on Thursday has left crude.....>

OIL
OIL: Oil's resurgence on Thursday has left crude looking at a weekly gain, with
WTI & Brent sticking to a tight range overnight.
- Oil was underpinned by issues surrounding Venezuelan exports, with focus still
centring on the upcoming OPEC+ meeting, with producers' views over output
constraints differing somewhat at present.
- Traders also await the release of the latest Baker Hughes rig count on Friday.
- WTI bulls will have taken comfort in the lack of follow through on dips below
the 100-DMA ($64.82) with focus having returned to $66.35-68.98 where 21 &
55-DMAs are noted. Bears need a close below the April 05 high ($63.87) to shift
initial focus lower.
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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