MTECHTIPS-Brent, NYMEX gain in Asia with Iran-U.S.tensions eyed

MTECHTIPS-Brent, NYMEX gain in Asia with Iran-U.S.tensions eyed

MTECHTIPS- Crude oil posted gains in Asia on Friday with U.S. tension with Iran in focus for any spillover into the oil markets from sanction or other actions, while U.S. rig count data is ahead. On the New York Mercantile Exchange, crude oil for delivery in March rose 0.54% to $53.83 a barrel, while on the Intercontinental Exchange in London, Brent oil for March delivery gained 0.42% to $56.80 a barrel. Markets in China reopened on Friday after a week-long break. Ahead on Friday, oilfield services firm Baker Hughes will report data on U.S. drilling activity at the end of last week that will be closely watched. Last week, Baker Hughes said the number of rigs drilling for oil in the U.S. increased by 15 last week, the 12th gain in 13 weeks. That brought the total count to 566, the most since November 2015. Overnight, crude prices settled lower in U.S. trade on Thursday as investors waited for end of the week rig count data and took profits on what are seen as so far adequate compliance with coordinated cuts to global oil production of almost 1.8 million barrels per day for the first six months of the year by OPEC and non-OPEC nations

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