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- NYMEX crude up in Asia as details of Iran nuclear deal seep out
NYMEX crude up in Asia as details of Iran nuclear deal seep out
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Loading...Crude oil prices rose in Asia on Friday even as the prospect of more oil from Iran hitting the market appeared likely after Western powers negotiated a tentative nuclear deal with Tehran.
Trade was thin on holidays in many markets, including the U.S., but non-farm payroll data will be released.
Overnight, oil futures tumbled on Thursday, as investors looked awaited the outcome of discussions between western diplomats and Iran over Teheran's disputed nuclear program.
On late Thursday, details emerged that Iran and Western powers had reached a deal on the framework of a preliminary Iranian nuclear pact before a final agreement could be reached in late-June.
The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories rose by 4.8 million barrels in the week ended March 27, below the 5.2 million barrel build reported by the American Petroleum Institute.
Investors focused on Friday’s U.S. employment report, which was forecast to show a gain of 245,000 jobs in March, following an increase of 295,000 in February.
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