Oil prices were little moved in early Asian trading on Friday after a volatile week that saw sharp falls along with Chinese equities followed by a strong rebound on the back of extreme government support measures.
Meanwhile, oil traders were awaiting news of whether a compromise could be reached between major world powers and Iran that could lead to sharply increased oil flows if sanctions against Tehran are lifted, although the U.S. government said overnight that it was in no rush to reach a deal
Front-month U.S. crude futures were trading at $52.79 per barrel at 0046 GMT, almost unchanged from their last settlement, although prices remain more than 7 percent below last Friday.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.