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| Commodity News |
| HeadLine : |
NYMEX crude gains in Asia ahead of U.S. holiday |
| Date : |
May 25 2015 |
- Crude oil prices ticked higher in early Asia on Monday as investors eyed supply/demand outlooks for the U.S., while remaining wary of global economic turmoil.
- On the New York Mercantile Exchange, WTI crude for July delivery rose 0.08% to $59.94 a barrel.Markets in the United States are closed for Memorial Day.
- On the Intercontinental Exchange (ICE), Brent crude for July delivery fell 1.21 or 1.82% to $65.33 a barrel.
- Last week, crude futures fell sharply on Friday paring some of its gains from one session earlier, amid a strengthening dollar aided by slight increases in inflation last month.
- Oil services firm Baker Hughes said in its weekly U.S. rig count report that oil rigs nationwide fell by one last week to 659, the lowest weekly level since August 2010. While the nationwide rig count has declined for 24 consecutive weeks.
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