Friday 6 July 2018

Oil mixed as investors short-cover and Saudi boosts output | Reuters

Oil mixed as investors short-cover and Saudi boosts output | Reuters:

Oil was mixed on Friday, with short-covering pushing up U.S. crude futures while Brent slipped on global trade tensions and increased Saudi production.

West Texas Intermediate crude futures CLc1 gained 61 cents to $73.55 by 11:30 a.m. (1530 GMT). Global benchmark Brent LCOc1 was down 39 cents at $77 a barrel.

For the week, WTI was on track for a loss of about 0.4 percent while Brent was down about 3 percent.

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