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Oil market update: Nymex lifted by firmer equities

  • : Biofuels, Biomass, Coal, Corporate, Crude oil, Electricity, Emissions, Freight, Fundamentals, LPG, Natural gas, Oil products, Petroleum coke, Politics
  • 09/07/24

Singapore, 24 July (Argus) — Nymex crude futures were firmer in today's after-hours trade, supported mainly by stronger equities markets.

At 09:15 GMT, the front-month September US crude futures contract was at $67.35/bl, higher by 19¢/bl from its close yesterday when the contract ended $1.76/bl higher.

The Nymex August front-month heating oil futures contract in after-hours trade rose by 1.13¢/USG to $1.7757/USG. Nymex August RBOB gasoline prices rose by 0.28¢/USG to $1.9160/USG.

Oil prices have firmed on tentative signs that the US economy may be emerging from recession, although indications of an actual rebound in oil demand have been limited.

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