Crude 0il narrowly mixed in Asia as China trade data awaited, US rig count ahead…
Crude oil was narrowly mixed in Asia with China trade figures and US rig count data ahead to set the tone after rising last week and sentiment strong for stable to higher prices. Overnight, crude oil prices settled higher on Thursday as a threatened strike in Nigeria and growing Middle East political tensions stoked fears of supply disruptions, while ongoing OPEC-led output curbs supported sentiment. One of Nigeria’s two main oil unions on Thursday threatened to launch a nationwide strike from Dec. 18 should the government fail to force the management of domestic oil and gas companies to recall laid-off union members. That added to fears of potential supply disruptions in the wake of growing Middle East political tensions after Saudi Arabia called for a review of US President Donald Trump’s decision to direct the State Department to begin preparations to move the US Embassy in Israel from Tel Aviv to Jerusalem.
Source: Investing
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