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On Thursday, crude prices rebounded in Asia because market participants saw buying opportunity on overnight sag on mixed American inventory data.
The US record refinery runs are actually drawing down oil stocks, although gasoline produced isn’t seeing expected sturdy demand. It’s because the summer driving season heads for a close.
In New York, September delivery crude futures rallied 0.24% being worth $46.89. In London, Brent futures soared 0.44% reaching $50.49 a barrel.
Overnight, oil settled lower because data showing that American crude output grew to its highest value for two years compensated a slump in supplies of American crude for a seventh-straight week.
Crude had been sagging for the third-straight day. A report from the Energy Information Administration unveiled that crude stockpiles edged down by more than expected the previous week, and it failed to tame worries over a soar in production.
Gold has already lost out in a paradigm shift exactly where the number one precious commodity is no longer considered to be a traditional refuge when traders are in a risk-off mood…
On Monday, gold headed south because Turkey’s economic turmoil left financial markets puzzled…
On Friday, gold leapt because market participants rushed to safe-have assets…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
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