Oil prices mixed in Asian trade
Oil prices were mixed in Asian trade on Friday after the key US futures contract broke through $84 a barrel overnight on fears a storm could threaten facilities in the Gulf of Mexico.
By Agencies |
SINGAPORE: Oil prices were mixed in Asian trade on Friday after the key US futures contract broke through $84 a barrel overnight on fears a storm could threaten facilities in the Gulf of Mexico.
At 0215 GMT, New York's main futures contract, light sweet crude for delivery in November, which takes over Friday, was at $81.68 a barrel, down 10 cents from its late US close Thursday of $81.78.
The October contract closed at a record $83.32 a barrel as it expired on Thursday but shot to an all-time peak of $84.10 in after-hours electronic trading, dealers said.
Brent North Sea crude for November delivery was up four cents to $79.13.
"Oil markets remain concerned about tight supply conditions," Australia's Commonwealth Bank said.
"In addition, concerns that a weather disturbance in the Gulf of Mexico could develop into a tropical storm has led to some oil production in the Gulf of Mexico being shut in."
At 0215 GMT, New York's main futures contract, light sweet crude for delivery in November, which takes over Friday, was at $81.68 a barrel, down 10 cents from its late US close Thursday of $81.78.
The October contract closed at a record $83.32 a barrel as it expired on Thursday but shot to an all-time peak of $84.10 in after-hours electronic trading, dealers said.
Brent North Sea crude for November delivery was up four cents to $79.13.
"Oil markets remain concerned about tight supply conditions," Australia's Commonwealth Bank said.
"In addition, concerns that a weather disturbance in the Gulf of Mexico could develop into a tropical storm has led to some oil production in the Gulf of Mexico being shut in."
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