empty
 
 

2018.02.1608:24:00UTC+00Crude Oil Comfortably Above $60 Again

Crude oil prices continued to rise Friday morning ahead the weekly U.S. rig count report.

U.S. drillers have been added rigs at a strong pace to take advantage of oil prices at 4-year highs, but OPEC has been determined to end the global supply glut by cutting production among its members.

WTI light sweet oil was up 21 cents at $61.55 a barrel.

The U.S. is considering an embargo on Venezuelan oil in order to pressure its government into sweeping reforms. The Venezuelan economy has tanked, sanitary conditions are putrid, and the people are not getting enough food, according to reports.

U.S. housing Starts data for January will be published at 8.30 am ET. Analysts are looking for 1.232 million, up from 1.192 million in the prior month. Permits are expected to be almost in line with the prior month at 1.300 million.

The University of Michigan's Consumer Sentiment report for February is expected at 10.00 am ET. The consensus is for 95.5, compared to 95.7 in January.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback