Oil trading higher in Asia
Mihir Kapadia – CEO and Founder of Sun Global Investments, writes on the latest.
Oil is trading higher in Asia with the WTI rising decisively above $50 a barrel for the first time in two months, lifted by growing optimism that the supply in the market is tightening.
Data in the past two weeks has indicated a trend toward declining US. inventories and slowing production.
WTI is currently 0.26 per cent higher at $50.29 at the time of writing.