The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
Crude dips for third day as doubts over OPEC cuts weigh
On Wednesday, crude futures kept tumbling for a third day notwithstanding a bigger than expected dip in American crude inventories posted by an industry group, with doubts as for OPEC's ability to tame supply as previously promised.
Brent crude futures slid 0.5% being worth $51.90 a barrel. During the previous session, the commodity managed to settle down 0.4%.
American West Texas Intermediate crude futures slid 0.3% hitting $49.02 a barrel, having fallen 0.4% on Tuesday.
In America, crude stockpiles sagged more than expected the previous week because imports went down and refinery runs grew, while gasoline inventories added suddenly, as the American Petroleum Institute informed late on Tuesday.
In the week crude inventories went down by 7.8 million barrels to 478.4 million, versus analyst expectations for a dip of 2.7 million barrels.
A recovery in Libya's crude output along with higher output in Nigeria have drastically hampered OPEC's efforts to tame crude supply. Meanwhile, American shale crude drillers have increased output.
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…