Oil up on strong economic data; U.S.-China tensions cap gains - Reuters:
Oil prices rose on Friday, lifted by some supportive economic data, but tensions between the United States and China limited gains.
Brent crude futures LCOc1 rose 3 cents to settle at $43.34 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 22 cents to settle at $41.29 a barrel.
For the week, Brent rose 0.5%, while U.S. crude rose 1.7%.
Ahead of the weekend, market participants had their eye on Tropical Storm Hanna, forecast to cross to Baffin Bay, 46 miles (74 km) south of Corpus Christi, Texas, on Saturday afternoon or evening.
Friday, 24 July 2020
Oil prices edge lower on U.S.-China tensions - Reuters
Oil prices edge lower on U.S.-China tensions - Reuters:
Oil prices edged lower on Friday, pressured by tensions between the United States and China, but some supportive economic data in Europe tempered losses.
Brent crude futures fell 13 cents to $43.18 a barrel by 11:19 a.m. EDT (1519 GMT). U.S. West Texas Intermediate (WTI) crude futures fell 5 cents to $41.02 a barrel.
Both benchmarks were on track for a modest weekly rise.
China ordered the United States to close its consulate in the city of Chengdu on Friday, responding to a U.S. demand this week that China close its Houston consulate.
Oil prices edged lower on Friday, pressured by tensions between the United States and China, but some supportive economic data in Europe tempered losses.
Brent crude futures fell 13 cents to $43.18 a barrel by 11:19 a.m. EDT (1519 GMT). U.S. West Texas Intermediate (WTI) crude futures fell 5 cents to $41.02 a barrel.
Both benchmarks were on track for a modest weekly rise.
China ordered the United States to close its consulate in the city of Chengdu on Friday, responding to a U.S. demand this week that China close its Houston consulate.
#Dubai logistics firm Tristar seeks Dubai listing, sources say | Nasdaq
Dubai logistics firm Tristar seeks Dubai listing, sources say | Nasdaq:
Dubai logistics company Tristar has approached investment banks as it looks at a potential initial public offering in Dubai, two sources told Reuters, after a plans for a London listing did not proceed last year.
The company contacted local and regional banks to bid for joint bookrunner roles for the listing on the Dubai Financial Market, the sources familiar with the matter said. They declined to be identified as the deal is not public.
Tristar last year was seeking to raise $250 million in a London listing, and hired Moelis & Co MC.N as a financial adviser for the sale, sources told Reuters at the time.
The deal did not gain momentum because of a tepid response from international investors, one of the sources said.
Dubai logistics company Tristar has approached investment banks as it looks at a potential initial public offering in Dubai, two sources told Reuters, after a plans for a London listing did not proceed last year.
The company contacted local and regional banks to bid for joint bookrunner roles for the listing on the Dubai Financial Market, the sources familiar with the matter said. They declined to be identified as the deal is not public.
Tristar last year was seeking to raise $250 million in a London listing, and hired Moelis & Co MC.N as a financial adviser for the sale, sources told Reuters at the time.
The deal did not gain momentum because of a tepid response from international investors, one of the sources said.
Oil prices edges up on weak dollar, U.S.-China tensions weigh - Reuters
Oil prices edges up on weak dollar, U.S.-China tensions weigh - Reuters:
Oil prices edged higher on Friday, supported by a weaker dollar, though tensions between the United States and China weighed.
Brent crude LCOc1 was up 26 cents at $43.57 a barrel at 0944 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 was up 29 cents at $41.36.
“Both crude benchmarks are roughly back where they were before this week’s upside breakout. Looking ahead, the oil market will likely settle back into a wait-and-see mode amid the increasingly uncertain environment,” PVM analysts said in a note.
China ordered the United States to close its consulate in the city of Chengdu on Friday, responding to a U.S. demand this week that China close its Houston consulate.
Oil prices edged higher on Friday, supported by a weaker dollar, though tensions between the United States and China weighed.
Brent crude LCOc1 was up 26 cents at $43.57 a barrel at 0944 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 was up 29 cents at $41.36.
“Both crude benchmarks are roughly back where they were before this week’s upside breakout. Looking ahead, the oil market will likely settle back into a wait-and-see mode amid the increasingly uncertain environment,” PVM analysts said in a note.
China ordered the United States to close its consulate in the city of Chengdu on Friday, responding to a U.S. demand this week that China close its Houston consulate.
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