
The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
On Thursday, crude was steady with trading activity drying up on the eve of the New Year weekend.
Heading into next year, investors told that market conditions were quite tight because of everlasting supply cuts led by OPEC and Russia.
American West Texas Intermediate crude futures hit $59.69 a barrel, adding 5 cents from their previous close. Earlier this week WTI had overleapt $60 a barrel – the first such a jump since June 2015.
WTI gained support from the American Petroleum Institute, which reported a 6 million barrel sag in crude inventories to about 432.8 million.
Meanwhile, Brent crude futures reached $66.50 a barrel, soaring 6 cents. Earlier this week this crude benchmark managed to break through $67, which is the first time since May 2015 this week.
Investors told that the high prices were caused by a relatively tight market after a year of OPEC as well as Russia-led production drops that were started last January and supposed to cover all of 2018.
The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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