Brent oil trading once again close to the $80 mark
BonTradeBrent oil prices are trading slightly higher on Friday and once again closing in on the $80 a barrel mark as the Euro makes a three week high against the US dollar.
In London, Brent crude oil futures for August delivery is trading firm on Friday at $78.58 a barrel on the ICE Futures Exchange.
”A higher Euro against the US dollar is in focus now, rather than oil‘s fundamentals. Risk appetite is also back,” Commerzbank analyst, Mr. Carsten Fritsch said.
Meanwhile, US WTI oil prices were trading lower after a jobs report showed the number of Americans seeking jobless benefits unexpectedly rose, suggesting that demand will be slow to recover.
Brent oil prices are today trading at a premium of around $2 to WTI oil prices.
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Brent oil trading once again close to the $80 mark
