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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.
On Wednesday, gold managed to leap reaching the best levels of the trading session because data disclosed that American consumer price surge speeded down in November…
On Friday, gold headed south…
On Tuesday, the yellow metal managed to surge in Asia…
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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