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Crude futures extend gains on US crude stock draw, weak dollar: 10/13 PM

2017/10/13 16:45

 The November WTI crude oil futures contract in NYMEX ACCESS trade at 16:15 hours Tokyo time on Friday was at $51.24 per barrel (bbl), up 40cts from the price in the morning session on Friday while the December Brent contract in ICE After Hours Trading was at $56.85/bbl, up 39cts. Weekly inventory data released on Thursday from the Energy Information Administration (EIA) showed US crude stocks declined more than expected. The inventory data raised views of tight demand/supply fundamentals for US crude, so that market sentiment was strong. In addition, the dollar weakened against the euro in the foreign exchange market. Hiroyuki Takai at Sumitomo Corporation Global Research Co says, “Crude futures lured buying interest amid a sense that the current values are attractive.” Meanwhile, the Nikkei Stock Average rose 200.46 points in Friday afternoon trade to 21,155.18, hitting the highest level in almost 21-years. The dollar traded at 111.87 against the yen, compared with 112.18 against yen in the morning trade.


  RECX-22 index for Friday was at 102.50, up 0.12 points from Thursday amid increases for most indices.


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