Crude Edges Higher on US Data, Global Tensions

摘要

Oil futures edged higher on Friday as traders focused on supportive economic data in the US against a backdrop of geopolitical tensions in Europe, the Middle East and Africa. Construction of new homes in the US accelerated by 13.2% to 1.07 million for the month of April, the highest level in five months. New housing is a key indicator of an improving economy and often seen as a precursor to a rebound in energy demand.