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Oil Up, Traders Awaiting Pre-Holiday Gasoline Data


Wednesday, 29 May 2019 03:56 WIB

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After a two-week barrage of Persian Gulf tensions to trade war scares, the oil market has fallen eerily quiet.

The July contract for West Texas Intermediate futures, the benchmark for U.S. crude, settled up 51 cents, or 0.9%, at $59.14 per barrel.

The August contract for U.K.-traded Brent futures, the global benchmark for oil, settled down 10 cents, or 0.15%, to $68.67 a barrel . The July contract settled unchanged at $70.11.

Analysts saw the disparity in the gains between WTI and Brent as the trade's attempt to close the U.S. benchmark's gap with the U.K. contracts that gained during Monday's Memorial Day holiday.

Source : Investing.com


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