Two Up Days for Crude After Recent Heavy Losses

摘要

Crude oil futures posted further modest gains on Friday, cobbling together a two-day winning streak that marked a pause from recent heavy losses and prompted some cautious talk that prices may be starting to bottom out. "The market really overdid it and we're seeing a readjustment. Near-term, I'd say we hold here unless there's another wave of bearish news," said Jeffrey Grossman of BRG Brokerage. In London, December Brent crude futures gained 34￠ on Friday to close at $86.16 per barrel on their first day as the front-month contract. That brought Brent's gain over two days to just over $1, but left it with a loss of about $4 for the week.