Oil prices are rising on Friday morning following Thursday's fall, although traders saw sentiment as bearish due mainly to the drop in industrial production caused by the global economic downturn.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 44.45/bbl on the ICE platform, up USD 0.81on Thursday's close.
"There is little doubt that the market should improve, yet it depends on far too many factors outside pure demand/supply fundamentals,'' Andrey Kryuchenkov at Russian bank VTB said.
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Freitag, 6.03.2009, 08:02 Uhr
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