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Buz Investors Oil edges up At 10:40 GMT, the commodity is trading at $51.97 per barrel, 1.09% higher from the New York close. During the session, crude oil traded at a high of $52.05 per barrel and a low of $51.38 per barrel. The Energy 

Oil edges up off one-week low as IEA sees tighter market

Oil edges up off one-week low as IEA sees tighter market

Oil

  • Buz Investors Oil edges up  At 10:40 GMT, the commodity is trading at $51.97 per barrel, 1.09% higher from the New York close.
  • During the session, crude oil traded at a high of $52.05 per barrel and a low of $51.38 per barrel. The commodity declined in the New York session yesterday, closing 0.39% lower at $51.41 per barrel, after the EIA disclosed that
  • US crude stockpiles unexpectedly rose by 2.3 million barrels to 485.5 million barrels in the week to 13 January 2017. Crude oil has its first support at $51.31 per barrel and its first resistance at $52.34 per barrel.





 

Oil edges up

Buz Investors Oil edges up At 10:40 GMT, the commodity is trading at $51.97 per barrel, 1.09% higher from the New York close. During the session, crude oil traded at a high of $52.05 per barrel and a low of $51.38 per barrel. The

Oil edges up Oil prices edged higher on Thursday, but swelling US crude stockpiles limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect.

READ  Baker Hughes disclosed that US oil rig count rose

The IEA said that while it was “far too soon” to gauge OPEC members’ compliance with promised cuts, commercial oil

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Oil edges up

inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for December.

Benchmark Brent crude was up 21 cents, or 0.4 per cent, at $54.13 a barrel by 1:33 p.m. EST (1833 GMT) after closing down 2.8 per cent in the previous session. U.S. crude rose 17 cents, or 0.4 per cent, to $51.25 a barrel, having dropped to a one-week low on Wednesday of $50.91.

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Jadtecnic

Founder.Editor at Investors Buz
Richard Dambrosi (JADTECNIC)Has Been Sharing Forex Analysis Trending Markets News since 2011. Editors and Founder of InvestorsBuz.com , has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars , Electric Cars, Medical Marijuana , 3d printing and Cloud computing , Refers to Readers as BUZ INVESTORS.
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