The Traderszone Network

Published in TZ Latest News 12 April, 2015 by The TZ Newswire Staff

Oil edges up as financial traders bet on higher prices

Oil prices inched up on Monday following a strong session on Friday, as financial traders increased their bets on higher prices amid a slowdown in U.S. drilling, but analysts warned fundamentals remained weak. Front-month Brent crude futures (LCOc1) were trading at$57.89 a barrel by 0356 GMT (7.56 a.m. ET), up 2 cents since their last settlement, while U.S. crude (CLc1) was up 14 cents at $51.78. Many money investors are calling a bottom in oil prices, as speculators in U.S.

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