Observing news today one can easily get disappointed. However, things are getting better.
Crude inches down in Asia following NKorea missile test
On Friday, crude went down in Asia right after North Korea tested another intermediate range ballistic missile over the Japanese island of Hokkaido in the newest tit-for-tat with America as well as its allies for pushing UN economic sanctions. Additionally, market participants looked ahead to the fresh weekly American rig count data.
In New York, October delivery crude futures sank 0.52% being worth $46.93 a barrel. As for London’s trade, Brent futures declined 0.29% trading at $55.10 a barrel.
Overnight, crude settled at seven-week maximum underpinned by a pair of reports suggesting that ascending global crude demand could potentially stem the glut in oil supplies.
Oil futures opened the trading session on the front foot leaping above $50 a barrel for the first time in five weeks because market participants kept cheering Wednesday’s International Energy Agency report, which unveiled that global crude demand in 2017 will rise by the most since 2015.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
Jerome Powell made a rare appearance in the public media this Thursday. What did he bring to the audience?