Find out the main drivers for this week
Crude gains on lower American crude stocks
On Thursday, crude markets ascended, underpinned by a fourth straight weekly decline in American crude inventories, although soaring output capped prices below the 2015 maximums hit earlier this week.
American West Texas Intermediate crude futures hit $56.74 a barrel, gaining 0.25% from their previous settlement.
As for Brent crude futures, this benchmark showed a reading of $62.77 a barrel, adding 0.5% from their previous close.
By December 8 American crude oil stockpiles went down by 5.1 million barrels, which is the fourth consecutive losing week, tumbling to 442.99 million barrels. It’s the lowest outcome since October 2015.
Market participants told that reports that the Organization of the Petroleum Exporting Countries, Russia as well as other non-OPEC producers might be considering output cuts beyond the current timeframe that actually sees curbs until the end of next year also underpinned Brent.
The price for WTI has risen to its highest levels since the beginning of May.
On Wednesday, the yellow metal managed to extend gains for the fourth consecutive day, while other metals are going down…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…