Brent Crude Prices rebound on Friday - ZENMoney

Brent Crude Prices rebounded on Friday with signs that China's economy is stabilizing on the back of data coming in from China coupled with concerns about supply disruptions in the North Sea and the Middle East. The market has also been in thrall to central bank comments on monetary policy. The Brent prices ended lower on thursday as traders and funds liquidated long positions to shake some heavy length out of the market only to repurchase those contracts once the market hit a one-month low and as exports from the North Sea are scheduled to rise in September. The downside in the brent prices were capped with a weaker dollar against basket of currencies on the back of data coming in from Eurozone and US.

Source : Equity Bulls

Keywords