Find out the main drivers for this week
Crude gives up early revenues, although market is still backed
On Wednesday, crude prices gave up some early revenues because experts warned of a downward correction, although remained well backed on the back of tightening supply as well as strong global demand
Tighter fundamentals have raised both benchmarks approximately 13% above levels in early December, underpinned by output curbs by OPEC as well as Russia, and also by healthy demand surge.
Brent crude futures showed $69.23 a barrel, adding 8 cents from their previous settlement, although sliding from a maximum of $69.37 in the day. On Monday, Brent added to $70.37 a barrel, which happens to be its highest value since December 2014 - the very beginning of a three-year crude price dive.
American West Texas Intermediate crude futures demonstrated $63.84 a barrel, losing from a maximum of $63.89 earlier, although growing 11 cents from their previous close. On Tuesday WTI showed $64.89, which is the highest reading since December 2014.
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…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.