Crude Oil Futures Climb After Several Days of Losses


  • crude oil futures climb on bargain hunting, upbeat demand outlook
  • sentiment in the financial markets is tentatively turning upbeat on expectations
  • the US Fed may be willing to defer its tapering of asset purchases in view of the delta wave slowing economic growth

Crude oil futures were higher in mid-morning trade in Asia Aug. 23 amid bargain hunting by investors after the rout in oil prices last week, with analysts noting the demand outlook remained optimistic as the West refrains from overly-strict restrictions to curb delta variant outbreaks says an article on SP Global.

Crude oil futures climb

At 10:58 am Singapore time (0258 GMT), the ICE October Brent futures contract was up 87 cents/b (1.33%) from the previous close at $66.05/b, while the NYMEX October light sweet crude contract was 74 cents/b (1.19%) higher at $62.87/b.

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Source: SP Global


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