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On Friday, crude drifted away from December-2014 peaks hit yesterday.
In spite of the fact market experts and investors have been pointed to the risks of a downward price correction since the beginning of 2018, they stress that overall market conditions are still good, mostly because of everlasting output cuts led by the Organization of the Petroleum Exporting Countries and also Russia.
American West Texas Intermediate crude futures hit $63.41 a barrel, sliding 0.6%, which is below their previous close. The day before WTI futures demonstrated its strongest reading since late 2014 hitting $64.77 a barrel.
As for Brent crude futures, they hit $69.11 a barrel, declining 0.2% from their previous settlement. The previous day Brent also marked a December-2014 maximum of $70.05 a barrel.
Meanwhile, American commercial crude inventories went down nearly 5 million barrels by January 5, hitting 419.5 million barrels.
On Monday, market participants were selling metals as well as other assets, which are traditionally referred to as "safe havens" due to the weakening fears of a trade conflict between the United States and China…
On Friday, demand for gold slumped in the face of the growth of the evergreen buck…
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…
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
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