[Sydney 30th Reuters]-Asia futures crude futures rebounded from lows for the first time in two weeks on the weekend. However, the upside is heavy due to concerns over the outlook for the world economy.
US WTI Crude Oil Futures <CLc1> is $ 0.14 (0.3%) higher per barrel = $ 56.05.
North Sea Brent Futures <LCOc1> is $ 62.12, down $ 0.21 (0.3%).
“The Saudi Arabia's crude oil production has almost recovered and the focus on the impact of the trade war on crude oil demand has returned,” said Steven Ines, market strategist at SPI Asset Management. He said the Trump administration is considering restrictions on investment in China by the US, and said the conflict between the United States and China seems to be intensifying.
