Gold heads south on soaring greenback
On Friday, demand for gold slumped in the face of the growth of the evergreen buck…
Crude dips due to US drilling
On Monday, crude sagged because a relentless ascend in American drilling understated an OPEC-led push to tighten oil supply.
This day trading activity is going to be subdued because of public holidays in the United States, China and the United Kingdom.
Brent crude futures slumped 0.3%, hitting $52.00 per barrel.
American West Texas Intermediate crude futures declined 0.3% too, demonstrating $49.63 per barrel.
The previous week, the Organization of the Petroleum Exporting Countries along with some non-OPEC producers agreed to extend an initiative to cut output by approximately 1.8 million barrels per day, until the end of the first quarter of next year. However, the decision didn’t go as far as many traders had hoped and provoked a heavy sell-off.
Notwithstanding the ongoing dips, crude prices haven’t ascended much beyond $50 per barrel.
American drillers have already added rigs for up to 19 straight weeks, reaching 722, which is the highest amount since April 2015 as well as the longest run of additions on record, as energy services company Baker Hughes Inc informed.
Similar
Gold slumps, approaching a year’s minimum
On Thursday, gold dived, getting back to a minimum since December in the face of the diving American currency as well as the yield of US government bonds…
Gold inches up to a two-week maximum
On Thursday, gold tacked on to a maximum of two weeks after the evergreen buck retreated from its peak in four and a half months…
Popular
Most Asian stocks post strong revenues with Nikkei rising more than 2%
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 real wages surge is slowest in almost two years
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…
Crude holds revenues on API estimates
On Wednesday, crude held revenues in Asia because industry estimates revealed a much sharper draw in American crude inventories expected, although higher than seen gasoline stocks affected market sentiment…
Deposit with your local payment systems
