Oil futures slightly rose in Asian trading hours Monday with both the US and the European oil benchmarks stretched firm gains from last week.
On the New York Mercantile Exchange, light and sweet crude futures for delivery in June dealt at $102.16 per barrel, up $0.14 in the Globex electronic session. July Brent crude on London’s ICE Futures exchange climbed $0.20 to $109.95 per barrel.
Nymex WTI crude has increased for six of the last nine weeks and ICE Brent crude has risen for four of the previous six weeks.
Over the weekend, German officials cautioned Russia would need to face further sanctions should Moscow disrupt the upcoming presidential elections in Ukraine on May 25.
The condition in Ukraine, the main assistance for Brent crude, showed no clues of easing before this coming weekend’s presidential election, ANZ said in a report.
“In addition to geopolitical factors, an uptick in seasonal demand supports price rises in the coming weeks,” it added.
Financial markets this week will watch China’s manufacturing data, as well as news from the European and US central banks.
Nymex redeveloped gasoline blendstock for June, the benchmark gasoline contract, escalated 121 points to $2.9856 per gallon, while June heating oil settled at $2.9597, 61 points higher.
ICE gasoil for June changed hands at $914.50 per metric ton, fell $1.75 from Friday’s settlement.
The material has been provided by InstaForex Company – www.instaforex.com
Oil futures slightly rose in Asian trading hours Monday with both the US and the European oil benchmarks stretched firm gains from last week.
On the New York Mercantile Exchange, light and sweet crude futures for delivery in June dealt at $102.16 per barrel, up $0.14 in the Globex electronic session. July Brent crude on London’s ICE Futures exchange climbed $0.20 to $109.95 per barrel.
Nymex WTI crude has increased for six of the last nine weeks and ICE Brent crude has risen for four of the previous six weeks.
Over the weekend, German officials cautioned Russia would need to face further sanctions should Moscow disrupt the upcoming presidential elections in Ukraine on May 25.
The condition in Ukraine, the main assistance for Brent crude, showed no clues of easing before this coming weekend’s presidential election, ANZ said in a report.
“In addition to geopolitical factors, an uptick in seasonal demand supports price rises in the coming weeks,” it added.
Financial markets this week will watch China’s manufacturing data, as well as news from the European and US central banks.
Nymex redeveloped gasoline blendstock for June, the benchmark gasoline contract, escalated 121 points to $2.9856 per gallon, while June heating oil settled at $2.9597, 61 points higher.
ICE gasoil for June changed hands at $914.50 per metric ton, fell $1.75 from Friday’s settlement.
The material has been provided by InstaForex Company – www.instaforex.com
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