WTI crude oil to $49.65

Crude higher on global supply glut concerns

Today crude prices traded higher, amid the latest concerns for a global supply glut, and the recent general pressures on the oil market.

WTI crude 0.8% higher

WTI crude reached $49.65 a barrel, 37 cents or 0.8% higher. Brent crude to $52.54 a barrel, 35 cents or 0.7% upper.

U.S. dollar stable prior to important releases

The dollar stabilized versus its counterparts, as the investors wait for today's releases on employment for the U.S.

The EUR/USD pair traded to 1.0594 rising 0.18%. The GBP/USD stabilized at 1.2167, the USD/JPY to 115.43 gaining 0.41%, and the U.S. dollar index at 101.94.

Some of today's key economic indicators

Germany

Germany's trade balance climbed from 18.3B to 18.5B. The economists predicted the German TB to drop to 18.0B.

Japan

Japan's BSI manufacturing index dropped from 7.5 to 1.1 and did not match the predictions for appreciation to 8.4.

Australia

Australia's home loans escalated from 0.4% to 0.5%. The economists estimated the nation's indicator to drop -1.0%.

Singapore

Singapore's retail sales climbed from 0.4% to 2.0% and differed from the estimations for declination to -0.5%.

Norway

Norway's consumer price inflation rose from -0.1% to 0.4%. The economists and the analysts estimated the CPI to climb 0.7%.

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