News Daily Spot: It strengthens price of a barrel this week despite the oversupply

more news

It strengthens price of a barrel this week despite the oversupply

Crude futures were little changed on Friday around $ 49 a barrel and headed to score the first weekly gain in three weeks, despite an excess supply that tested the ability storage and that has impacted the business performance.

The possible weekly rise, driven by lower than expected in crude stocks in the United States increased, is seen mostly as a trend in a market oversupplied and is seeing a slow economic growth in key markets like the United US and China.

At 0940 GMT, Brent crude rose 10 cents to $ 48.90 a barrel and headed to record an advance of nearly 2 percent weekly.

The US crude lost 10 cents to $ 45.96 a barrel, and was headed to record an increase of almost 3 percent on the week.

Traders said a rally earlier this week caused by a buildup of 3.4 million barrels reported by the Energy Information Administration of the United States was the only support for the weekly increase.

The accumulation of inventories was less than expected by analysts and generated an increase of nearly $ 3 in US crude. But after disappointing data were published that detracted impetus to the trend. (Additional reporting by Aaron Sheldrick in Tokyo. Editing by Patrick Abusleme Spanish)

click here