Oil mixed as weak Chinese data, growing U.S. supplies offset Trump plan to ease lockdown - Reuters: Oil prices were mixed on Friday, with weak Chinese economic figures and rapidly filling U.S. crude storage offsetting bullishness built on U.S. President Donald Trump's outlines for the U.S. economy to emerge from the coronavirus shutdown.
Brent futures LCOc1 rose 26 cents, or 0.9%, to settle at $28.08 a barrel while West Texas Intermediate crude contract (WTI) for June CLc2, which became the day’s more active contract, ended the session down 50 cents, or 2%, at $25.03.
The less active prompt WTI for May delivery CLc1 tumbled by $1.60, or 8.1%, to $18.27, ahead of its April 21 expiration as investors rapidly switched out of that contract into June futures. The contract slumped to a low of $17.31 a barrel during the session, the lowest since November 2001.
May WTI futures slumped nearly 20% on the week, based on last Thursday’s settle, while Brent dropped nearly 11%. Markets were closed last Friday for Good Friday.
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