Oil prices are” directionless” and trading flat on Friday morning, but the underlying fundamentals are bullish due to the continued supply risk in the Middle East North Africa region and strong demand, analysts said.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 115.33/bbl on the ICE platform, up USD 0.28 on Thursday's close.
At the moment the market is "directionless” as conflicting views lead prices up one day and down the next, said Tony Nunan, assistant general manager for petroleum risk management at Mitsubishi Corp.
Freitag, 27.05.2011, 08:17 Uhr
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