U.S. Oil Stocks Fall Slightly, Gasoline Inventories Up

Brent futures LCOc1 gained 47 cents and traded at $50.93 a barrel, while West Texas Intermediate crude CLc1 increased by 37 cents to be traded at $48.02 per barrel, reported Reuters.

There was also a sign of slowing energy demand in China, the world's second largest oil consumer, when a survey showed growth in that country's services sector in April was at its slowest in nearly a year.

"We feel that the (Opec) cartel has come to a fork in the road in which the current agreement will be abandoned or steps will need to be taken to double down on current efforts by increasing production curtailments", Ritterbusch said.

US crude prices plunged more than 3% in a matter of minutes on Friday morning in Asia, taking the price of a barrel below $45 for the first time since a landmark OPEC deal in November to slash production.

House Passes Comp Time Bill; White House Voices Support
Basically, it would give such employees the right to ask for compensatory time off instead of time-and-a-half overtime pay. This makes for an uphill battle in the Senate, even though the White House has come out in support of the measure.

Oil prices stabilized in Asian trading Friday after hitting a five-month low while regional stock benchmarks headed lower in holiday-thinned trading.

KEEPING SCORE: In Europe, France's CAC 40 was up 0.2 percent at 5,385 as investors remained hopeful that the centrist presidential candidate would win in Sunday's election.

OPEC oil output fell for a fourth straight month in April, a Reuters survey found on Tuesday, as top exporter Saudi Arabia kept production below its target, which helped offset weaker compliance by other members.

CRUDE CONCERNS: U.S. benchmark crude oil futures fell briefly below the key $45 level before stabilizing.

Baahubali 2 collects over Rs 400 crore in opening weekend
The SS Rajamouli's film leave an impact and post the weekend the film is showing strong collection on the weekday Monday too. For example, a leading restaurant in Hyderabad distributed a Baahubali 2 ticket of Rs 150 for every bill of Rs 500.

"What we've seen in terms of the rebound today is really just a bit of a correction following an oversold market over the past several days", Michael Tran, a commodities strategist at RBC Capital Markets in NY, said by telephone. The contract lost $2.30 on Thursday.

As U.S. producers continue to unleash a steady, and strong, stream of shale oil into the market, it intensifies pressures on OPEC and Russian Federation to continue keeping their output capped to prevent further price erosion. "If $45 was OPEC line in the sand, well it's been breached so let us see how strong OPEC resolve is", he said.

The Dow Jones Industrial Average .DJI rose 20.29 points, or 0.1 percent, to 20,971.76, the S&P 500 .SPX gained 4.72 points, or 0.20 percent, to 2,394.24 and the Nasdaq Composite .IXIC added 10.05 points, or 0.17 percent, to 6,085.38. Overnight, MSCI's broadest index of Asia-Pacific shares outside Japan.MIAPJ0000PUS closed 0.62 percent lower.

The Canadian dollar, the Australian dollar and Russia's rouble - some of the world's most commodity- sensitive currencies - were all sent spinning, falling respectively to 14-month, four-month and seven-week lows. The euro edged up to $1.09876 from $1.0984.

Anthony Joshua Survives Scare to Take Wladimir Klitschko Out in 11th
On the question of his next fight, Klitschko said: "I'm not gonna consider anything, I'm not gonna make any statements right now". Klitschko has now lost his last two fights, albeit over a space of 16 months.

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