Crude oil prices fell in Asia on Monday as the market took note of fresh additions to the
US rig count last week and strong production in the United States.
US West Texas Intermediate (WTI) crude futures for January delivery eased 0.51% to
$57.07 a barrel. ICE Brent dropped 0.38% to $63.09 a barrel.
Oil traders this week will look at monthly reports from OPEC and the International Energy
Agency (IEA) to assess global oil supply and demand levels. The data will give traders a
better picture of whether a global rebalancing is taking place in the oil market.
Last week, oil finished higher on Friday, boosted by signs of rising crude demand in
China, but prices failed to avoid a weekly loss amid concerns over rising production in the
U.S.
Meanwhile, February Brent crude futures, the benchmark for oil prices outside the U.S.,
jumped $1.20, or roughly 1.9%, to settle at $63.40 a barrel by close of trade. For the
week, Brent suffered a loss of about 0.6%.
Crude futures were buoyed by data showing China\'s oil imports rose to 9.01 million
barrels per day (bpd) last month, the second highest on record, data from the General
Administration of Customs showed on Friday. Booming demand will push China ahead of
the United States as the world\'s biggest crude importer this year.
TIME CURRENCY PARTICULAR FORECAST PREVIOUS
3:00 PM GBP Manufacturing
Production m/m
0.1% 0.7%
7:00 PM USD Non-Farm
Employment
Change
198K 261K
7:00 PM USD Unemployment
Rate
4.1% 4.1%
For Getting Trial Click On Below Link
US rig count last week and strong production in the United States.
US West Texas Intermediate (WTI) crude futures for January delivery eased 0.51% to
$57.07 a barrel. ICE Brent dropped 0.38% to $63.09 a barrel.
Oil traders this week will look at monthly reports from OPEC and the International Energy
Agency (IEA) to assess global oil supply and demand levels. The data will give traders a
better picture of whether a global rebalancing is taking place in the oil market.
Last week, oil finished higher on Friday, boosted by signs of rising crude demand in
China, but prices failed to avoid a weekly loss amid concerns over rising production in the
U.S.
Meanwhile, February Brent crude futures, the benchmark for oil prices outside the U.S.,
jumped $1.20, or roughly 1.9%, to settle at $63.40 a barrel by close of trade. For the
week, Brent suffered a loss of about 0.6%.
Crude futures were buoyed by data showing China\'s oil imports rose to 9.01 million
barrels per day (bpd) last month, the second highest on record, data from the General
Administration of Customs showed on Friday. Booming demand will push China ahead of
the United States as the world\'s biggest crude importer this year.
TIME CURRENCY PARTICULAR FORECAST PREVIOUS
3:00 PM GBP Manufacturing
Production m/m
0.1% 0.7%
7:00 PM USD Non-Farm
Employment
Change
198K 261K
7:00 PM USD Unemployment
Rate
4.1% 4.1%
For Getting Trial Click On Below Link
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