Oil prices are rising on Friday morning, recovering from Thursday's massive losses when contracts saw their biggest fall in two years.
The Brent front month North Sea oil contract was last seen USD 1.19 firmer at USD 111.99/bbl while WTI on Nymex last traded USD 0.55 firmer at USD 100.35/bbl.
Although the losses on Thursday were "overdone”, a lot of bearish factors were affecting the market currently, according to one Australia-based trader.
Prices plummeted on Thursday with the Brent contract end
Freitag, 6.05.2011, 08:13 Uhr
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