7/24, 12:49 PM (Source: TeleTrader)
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Crude turns to gains as data suggests industrial recovery

Prices of oil rebounded from losses recorded earlier on Friday as economic data from Europe sparked optimism among investors over the industrial recovery from the coronavirus crisis.

Private sector activity in the euro area jumped to its highest level in 25 months in July, while Germany's private sector reached a 23-month high in the same month.

West Texas Intermediate (WTI) for deliveries in September added 0.85% at 6:37 am ET to go for $41.42 per barrel. A minute later, Brent for the same month's settlement gained 0.74%, trading at $43.63 per barrel.

Breaking the News / GA