Saudi Oil Minister Sees Demand Rising
JoellenMseCrude oil prices rebounded on bargain-hunting, triggered by Saudi Arabia's comments and decline in US gasoline and distillate inventories. These overshadowed another week of crude inventory build-up. The front-month contract for WTI crude oil gained for the first time in 4 days, adding +3.47%. The Brent crude contract rose to a 5-day of 62.2 before settling at 61.63, up +5.06%. Gold firmed modestly on a soft USD.
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Saudi Oil Minister Sees Demand Rising
