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On Thursday, crude markets went down, suppressed by soaring American crude inventories as well as output, not to mention a stronger greenback that potentially affects fuel consumption in countries, which utilize other currencies at home.
Brent crude futures demonstrated $56.13 a barrel, sliding 0.3% from their previous close.
American West Texas Intermediate crude futures hit $50.68 per barrel, declining 1 cent from the previous settlement.
Market participants told that a strengthening US currency had put pressure on Brent. At the same time ascending crude stocks as well as output in America had pressured WTI.
American commercial crude inventories tacked on for a third straight week, adding by 4.6 million barrels by September 15, hitting 472.83 million barrels.
Meanwhile, American crude output has mostly revived from the shut-downs caused by Hurricane Harvey. Well, currently US crude output accounts for 9.51 million barrels a day, which is up from 8.78 million bpd after the storm affected the US Gulf Coast.
On Thursday, gold ascended because bullish traders took the Fed’s latest hawkish remark in stride and also targeted the $1,250 level for the purpose of recapturing ground lost earlier in the year…
On Wednesday, gold sank after a two-day rally because a strengthening greenback took some of the bullish support from the yellow commodity because the Fed uncovered details from its latest policy gathering…
On Monday, gold surged nearly 1% hitting the highest value for three months because a combination of fears over soaring American yields as well as the impact of trade clash, along with geopolitical risks and also a weaker greenback, backed demand for the…
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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