There’s no real reason for this other than traders doing their best to squeeze the life out of the recovery. It’s a delicate recovery but it might not last if this continues.
Oil prices rose above $86 a barrel Friday in Asia after robust U.S. retail sales in March pointed to growing consumer demand in the world’s biggest energy market.
Benchmark crude for May delivery was up 71 cents to $86.10 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 49 cents to settle at $85.39 on Thursday.