Crude edges down in Asia on Caixin PMI

Crude edges down in Asia on Caixin PMI

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.

In New York, June delivery crude futures sagged 0.20%, trading at $48.74 a barrel, while in London, Brent crude futures slumped 0.14%, demonstrating $51.45 a barrel.

The American Petroleum Institute’s about to unveil its estimates of crude as well as refined product stocks after the market close in America on Tuesday. On Wednesday, it will be followed by the Energy Information Administration with official data.

Overnight, crude futures went down, after Libya stepped up output, while concerns resurfaced that ascending American output would compensate an OPEC-led deal to tame the global glut in supply.

Crude prices contributed to losses sustained in April because Libya drove oversupply worries after output rebounded to the highest value since 2014. 

Similar

Gold declines on Fed remarks

On Wednesday, gold headed south and kept to a one-year minimum due to the fact the evergreen buck managed to strengthen on Fed Chair’s remarks, which backed views that the US major financial institution considers lifting its interest rates this year…

Popular

Asian shares tumble with Japan markets shut

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…

Greenback surges as yields soar

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…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera