GOLD: approaching $1,800!
The shining metal breaks above $1,760. How soon the 2012 heights may be beaten?
American crude extends its dive, suppressed by greenback
On Tuesday, crude descended for a second day because soaring American output along with a strengthening greenback affected demand for oil, bringing Brent below $70 a barrel.
Brent crude futures lost 0.5% being worth $69.13 a barrel. On Monday, March delivery contract slumped 1.5% hitting $69.46 a barrel.
American West Texas Intermediate crude futures sank 0.7% reaching $65.09 a barrel. By the way, on Monday, the futures dived 0.9% trading at $65.56.
American crude output happens to be already on par with Saudi Arabia, which is the number one crude producer within OPEC. However, Russia manages to produce more, boasting an output of 10.98 m. barrels a day last year.
American output has soared more than 17% since mid-2016. It’s believed to surpass 10 million bpd in the nearer future.
Drillers in America added up to 12 crude rigs for new output to January 26. That’s what Baker Hughes informed on Friday.
Similar
Gold shines as bright as $3,000
Find out the most bullish forecast for gold!
WTI dropped below zero: what does it mean?
Big news shake financial markets more and more often. This time oil is once again the news maker.
Latest news
Market news on May 26: S&P 500 passed 3000
Stocks, oil and GBP gain on risk-on sentiment
What moves the market on May 25?
Investors weigh reopening economies against the growing US-China tension. Which impulse will be stronger?
What moves the market on May 22?
Here you’ll find fresh news that drive the market today.
Deposit with your local payment systems
