The Traderszone Network

Published in TZ Latest News 2 March, 2015 by The TZ Newswire Staff

Brent crude up $1 to over $60.50 as global markets firm

Brent crude oil prices rose more than a dollar to above $60.50 a barrel on Tuesday, tracking firmer Asian markets, but analysts warned the market remained oversupplied. Most Asian stock markets edged up on Tuesday, bolstered by a record day on Wall Street, while a resurgent yen helped knock the U.S. dollar index off an 11-year high, making commodities priced in the greenback slightly cheaper for holders of other currencies. A drop in U.S. rig counts is also boosting oil prices, analysts said. “Brent crude prices (are) attempting to rally on rapid week-on-week reduction in U.S. …

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