Oil News

Crude Oil is trading at $71.72 as of 9:50am, London Time. Crude’s Pool-Position is 39% Long, meaning that most Finotec clients are Selling the commodity.

Crude Oil is hovering around the $72 a barrel mark

Crude Oil is trading at $71.72 as of 9:50am, London Time. Crude’s Pool-Position is 39% Long, meaning that most Finotec clients are Selling the commodity.

Crude oil rallied half a percent above $72 a barrel on Friday, extending the previous session’s 0.9 percent gain on positive demand expectations and inventory data. China’s crude oil imports in August surged about 25 percent on the year to a near record high of 19.6 million tons, or around 4.6 million barrels per day, Reuters calculations based on official customs data showed. The International Energy Agency raised its demand outlook and the U.S. Energy Information Administration reported crude inventories fell 5.9 million barrels last week, four times greater than forecast in a Reuters poll. Crude Oil is trading at $71.72 as of 9:50am, London Time. Crude’s Pool-Position is 39% Long, meaning that most Finotec clients are Selling the commodity.