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NYMEX and Brent soar in Asia

On Monday, oil futures leapt during Asia trade with prospects for greater demand in data from America this week.  

In New York, July delivery crude futures edged up 0.93%, trading at $49.07 per barrel. Brent crude futures acquired 0.68%, being worth $49.98.    

Next week, crude traders will pay much attention to American stockpile data to be published on Tuesday as well as Wednesday for new supply-and-demand indications.

Apart from that, traders will keep monitoring supply disruptions around the globe for further signals on the rebalancing of the energy market.

Last week, on Friday, crude futures closed lower after data demonstrated American oil rig count soared the first time for 11 weeks, thus underlining worries over growing supplies.

On Friday, Baker Hughes, oilfield services provider informed last week the total number of rigs drilling for crude in American surged by 9, ending 3 months of weekly descends.

The revived revenue in American drilling activity drove rumors that domestic output could be about to rebound next weeks.    


 

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