WTI clings to recovery gains amid US-China trade optimism.
Economic re-openings boost oil demand growth prospects globally.
Next of relevance remains the key US NFP and Rigs count data.
The WTI (June futures on Nymex) recovery following Thursday’s slump lost legs just shy of the 25 handle in early Europe, as the bulls take a breather ahead of the key US macro events.
The black gold is now consolidating the steady recovery in a $1 range around 24.30 region, still defending 3.20% gains. The bullish undertone in the US oil is partly on account of the expectations of a pick-up in the oil demand, as most major global economies move to re-opening


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