Oil adds to gains in Asia

Source: The Straits Times
© Scanpix/Reuters
Crude oil prices moved higher on Friday amid hopes that rising demand and a drop in US stockpiles would reduce the oversupply in oil that has put pressure on the market for over a year. WTI futures for delivery in November were up 2%, or $0.99, to trade at $50.42 per barrel. As to Brent futures for November delivery, these rose by 1.6%, or $0.85, to trade at $53.90 per barrel. 
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