West TX Oil Near $50

Oil prices rose on Thursday as strong German economic data and continued uncertainty about an agreement on Iran’s nuclear program provided lift a day after crude futures tumbled 6 percent.

U.S. crude closed up 37 cents, or 0.73 percent, at $50.79 a barrel, while Brent crude was rose about $1 to $57.80.  Both benchmarks dropped around $3.50 on Wednesday.

Brent crude jumped more than 2 percent earlier as European equities strengthened on German industrial output and trade data, and as Greece said it will pay a loan tranche to the International Monetary Fund.


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.