US Oil Futures Rise for the Day, Yet Suffer Stunning 7% Weekly Loss
US oil futures saw an increase on Friday but still experienced a significant loss of over 7% for the week overall. Analysts are speculating whether the rise of oil prices on Friday is a result of short-covering, actual buying in hopes that prices have reached their low point, or if it might be due to […]
US Oil Prices Make a Comeback: Higher Session Close, Weekly Dip Continues
Oil futures experienced a gain during Friday’s session, albeit losing over 5% for the rest of the week. The flash service PMI reports from overseas were not as bad as expected, whilst the U.S flash PMI for both had exceeded expectations, thus providing oil support. Although oil prices had temporarily stabilised during short-term heightened growth, […]