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On Friday, crude staged a moderate soar in Asia, with American crude approaching the key $50 a barrel mark ahead of weekly rig count data supposed to set the near-term tone ahead of next week's gathering of OPEC as well as allied producers on output dips.
In New York, June delivery crude futures added 0.85%, being worth $49.77 a barrel. As for London, in this city Brent futures acquired 0.70%, being worth $52.88 a barrel.
In figures posted last Friday, oilfield services company Baker Hughes announced that American drillers gained 9 crude rigs just to take the total to 712 rigs for the 17th weekly revenue in a row, thus extending an 11-month drilling revival to the highest value since August 2015, suggesting that further revenues in domestic production are ahead.
Overnight, oil climbed up because traders remained quite upbeat as for OPEC would reach an anticipated agreement in order to extend the current supply-cut deal beyond June at its scheduled gathering next week.
Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears…
On Monday, gold slipped a bit because the USD index rallied to its highest value for more than 17 months, thus affecting gold’s demand…
On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution…
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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