Sunday, 17 July 2016

Oil prices rise as market shrugs off Turkey coup bid

Oil prices rose in Asian trade on Monday, following gains last week, as traders shrugged off the impact of Friday's attempted coup in Turkey, while a weaker dollar and upbeat economic data from the United States lent price support. U.S. crude futures climbed 10 cents to $46.05 a barrel after ending the previous session up 27 cents, gaining more than 1 percent for the week. "The market is looking past the coup," said Ric Spooner, chief market analyst at Sydney's CMC Markets.

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