Crude oil futures rebound in Asian session, ANZ warns intraday volatility may remain high
- Asian early trading crude oil futures rose, possibly showing a technical rebound after an overnight decline. Analysts from the ANZ Bank Research Department stated that the market is being driven by optimism over reaching an agreement to end the Middle East conflict in the coming days.
- However, the analysts added that the situation remains highly volatile, and intraday volatility may remain elevated until there is more substantial progress.
- Nearby West Texas Intermediate crude oil futures rose 1.2% to $96.18 per barrel, while nearby Brent crude oil futures increased 0.9% to $102.19 per barrel.
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