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On Friday, crude prices tacked on, with Brent futures getting closer to $60 amid tightening market hopes, underpinned by comments from Saudi Arabia's Crown Prince supporting the extension of OPEC-led crude output cuts.
Brent futures gained 0.17% being worth $59.40 a barrel.
By the way, Brent is currently a third above 2017 minimum hit in June and also at levels last observed in mid-2015.
American West Texas Intermediate crude futures hit $52.64 a barrel, staying intact from their previous close, adding by a quarter from their June 2017 minimum.
WTI has been lower than Brent because ascending American output has already capped crude prices in America.
The Organization of Petroleum Exporting Countries along with some non-OPEC producers, such as Russia has already promised to limit their output by approximately 1.8 million barrels a day until the end of March for the purpose of draining a global supply glut.
On November 30, OPEC is expected to meet in Vienna, where it should discuss extending that pact.
On Tuesday, gold jumped, underpinned by hopes that the US main financial institution is going to send financial markets a more dovish message as for future monetary policy following the two-day policy gathering scheduled to start a bit later on Tuesday…
On Monday, gold managed to ascend because traders closely watched a busy week probably to be dominated by the Fed’s regular policy gathering…
On Thursday, in Asia, gold slipped notwithstanding the fact that China posted weaker-than-anticipated industrial output data…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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