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U.S. oil futures were hovering near three-month highs on Friday, as the production freeze announced last week by major oil producers continued to spur optimism. U.S. crude futures for November delivery were up 0.50% at $48.47 a barrel, the highest since August 18 and just off a three-month peak of $48.87 a barrel hit overnight. Despite initial skepticism, traders seemed globally optimistic after the Organization of the Petroleum Exporting Countries said last week that it would cut output to between 32.5 million barrels per day (bpd) and 33.0 million bpd from about 33.5 million bpd, with details to be finalized at its policy meeting in November. It was the first such deal since 2008. Market participants were also looking ahead to an upcoming report on U.S. manufacturing activity, after upbeat U.S. data on Friday boosted demand for the greenback. Oil prices typically weaken when the U.S. currency strengthens as the dollar-priced commodity becomes more expensive for holders of other currencies.

Singapore: Avails are tight. Earliest deliveries basis 7th of October onwards, depending on barge schedules.

Fujairah: Avails are tight. Earliest deliveries basis 7th-8th of October onwards, depending on barge schedules.

Istanbul: Avails are fair. Earliest deliveries basis 4th-5th of October onwards, depending on barge schedules.