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On Friday, crude prices held revenues in Asia, with the market poised for the latest American weekly rig count figures just to set the overall tone and looking to France’s upcoming presidential elections.
In New York, May delivery crude futures soared 0.14%, hitting $50.78 a barrel, while in London, Brent crude futures surged 0.08%, trading at $53.05 a barrel.
On Friday, oilfield services company Barker Hughes is expected to report weekly rig count data, closely watched as the American shale crude industry's aggressive response to higher prices. The previous week, Baker Hughes told that the weekly American rig count edged up by 11 to 683, for the thirteenth straight weekly surge.
Overnight, oil settled lower on Thursday, as worries over ascending American crude output compensated bullish comments from crude producers on a probable extension to the OPEC-led deal to tame global supply.
The glut in American inventories arose just a day after the EIA’s monthly Drilling Productivity data disclosed that American shale output was set to surge to 5.19 million barrels a day in May.
Britain’s economic and political issues along with a no-confidence vote on Prime Minister Theresa May following her unsuccessful Brexit deal vote gave gold traders a hope of getting back to maximums of above $1,300 an ounce…
On Tuesday, gold managed to gain a bit due to the fact that the first dive in factory gate inflation for four months backed the argument that the major US bank should suspend monetary policy tightening and traders looked ahead to a bunch of remarks from…
On Thursday, gold was intact due to the fact that market participants waited for comments from Fed Chair Jerome Powell in the face of hopes that the head of the US key financial institution is going to reaffirm a pause in the US monetary policy…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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