WASHINGTON (dpa-AFX) - Crude oil prices rebounded on Friday amidst global cheer at the stimulus measures rolled out by China. Concerns over firmer supply that had dragged down prices heavily during the week took backstage on Friday amidst overwhelming hopes of a demand rebound in China.
Brent Oil Futures for December settlement is currently trading at $71.34, having gained 0.35 percent from the previous close of $71.09. Prices had slipped more than 2 percent each on Wednesday and Thursday.
The day's trading ranged between $70.25 and $73.28 whereas the 52-week trading range was between $68.68 and $96.26.
West Texas Intermediate (WTI) Crude Oil Futures for November settlement also increased 0.46 percent from the previous close of $67.67 to trade at $67.98. Prices had slipped more than 2 percent each on Wednesday and Thursday.
Prices ranged between a high of $68.14 and a low of $67.06. Trading ranged between $65.27 and $93.1 over the past 52 weeks.
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