The May crude oil futures contract in NYMEX ACCESS
trade at 11:15 Tokyo time on Thursday was at $64.60 per barrel (bbl), up
22cts from the closing price in New York on Wednesday while the May Brent
contract in ICE After Hours Trading was at $69.86/bbl, up 33cts. With the
declines in the WTI and Brent crude futures, “bargain hunting moves
pushed up in the Asian morning hours,” said Takayuki Nogami, a chief
economist at Japan Oil, Gas and Metals National Corp (JOGMEC). Some support
also came as stronger euro against US dollar has brought down dollar-based
crude futures. The Nikkei Stock Average rose by 134.79 points from
Wednesday to hover at Yen 20,166.10. Meanwhile, the US dollar traded at
106.61 against the yen versus 105.47 in the Wednesday evening Tokyo time.
RECX-22
index for Thursday was at 102.61 points, down 0.29 points from the previous
day.
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