New oil contract starts with a positive gap
Oil prices were less affected by the strong greenback than some traders expected. Although oil edged away from the $50 a barrel benchmark that OPEC was hoping to reach, there wasn't a major slump. Ongoing security issues in Nigeria and fires in Canada are imposing some resilience on oil prices.
So far we are expecting a quiet start to next week's trading, with no major economic events scheduled for Monday. However, the markets are always responsive to global news events.
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