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Friday, 6 January 2017

Oil edges up; strong dollar, OPEC doubts make buyers cautious | Reuters

Oil edges up; strong dollar, OPEC doubts make buyers cautious | Reuters:
"Oil rose slightly on Friday as investors bought futures ahead of the weekend, but a strong U.S. dollar limited gains, as did lingering doubts about whether all OPEC producers would cut output in line with an agreement.

Trading was choppy, and market players cited end-of-week position-squaring and relatively low volumes during the first trading week of the year.

Brent crude futures LCOc1 were trading 15 cents higher at $57.04 per barrel at 1:15 p.m. EST (1815 GMT), after moving in a $56.28-to-$57.47 range.

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