Iran retaliates, Donald Trump will announce the next step by the US today. Gold flies up to $1,600 per ounce.
The Middle East tension pushes the market into a cautious mode; oil, gold, and the safe-haven currencies gain.
The American Crude Oil inventories will be announced at 18:00 MT time on December 27.
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Oil traders are awaiting the release of the weekly crude oil stocks change at 17:30 MT time.
Today, the oil prices may move on the release of crude oil inventories at 18:00 MT time.
According to yesterday’s news OPEC is considering further production cuts. The next meeting of oil-producing countries is scheduled for December 5-6. The announcement pushed the oil prices up yesterday.
Heads up to the release of weekly crude oil inventories at 17:30 MT!
Crude oil inventories will be out at 17:30 MT time
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
Yesterday’s private survey showed larger-than-expected cut in oil output.
The release of crude oil inventories earlier today showed a surprise increase in the number of barrels.