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Wednesday, October 16th, 2019

Oil curves move above US$50

by October 10, 2016 General

SINGAPORE–US oil futures held above US$50 per barrel on Friday as the entire crude forward curve pushed above that level in a sign that financial markets have increasing confidence in the sector.

US West Texas Intermediate (WTI) futures settled at US$50,44 per barrel on Thursday – the first settlement above US$50 since June 24 – and were up 6 cents on Friday at US$50.50 per barrel in early trading.

Brent futures already moved over US$50 at the start of this week, and were trading at US$52,57 per barrel when the markets opened on Friday.