Oil prices bounce back after week of sharp falls - 7 Nov 2016

Commodity Intraday Tips

Oil futures rose on Monday, with traders citing opportunistic buying following sharp declines in the previous week that brought prices to their lowest since early August because of ongoing weak fundamentals.

International Brent crude oil futures LCOc1 were trading at USD 46.00 per barrel at 0412 GMT, up 42 cents, or 0.92 percent, from their previous close. On Friday, the global benchmark had fallen as low as USD 45.08, its weakest since Aug. 11.

US West Texas Intermediate (WTI) crude futures CLc1 were up 48 cents, or 1.09 percent, at USD 44.55 a barrel. WTI hit USD 43.57 on Friday, its lowest since Sept. 20.

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