was saved on Friday soaring over $1 to trade at 44
.22 while Brent oil
saw a gain of $1.18 soaring to 46.63. Both benchmarks closed the week with significant losses down by 7% each. However, Monday morning saw volatile trading action
despite the US markets on holiday. Crude oil
soar 4.37% trading at $46.03 while Brent oil
is trading at $48.82 up 4.99%. Comments from Russia that they see no need to attend the OPEC producers meeting later this month as they are now happy with prices seemed to pull the rug out from under the feet of speculators. Oil
took a huge hit on Thursday falling over 3.45% in a single session hitting a low of 43.00.