Find out the main drivers for this week
Crude is still backed
On Friday, oil was still underpinned amid everlasting optimism as for the rebalancing of the crude market, while the partial closure of the major North-American pipeline generated supply disruption worries.
January delivery West Texas Intermediate crude futures gained 1.22% being worth $58.73 a barrel, which is the highest value since July 2015.
Additionally, January delivery Brent futures stood still trading at $63.55 a barrel.
Crude prices leapt reacting to news that an oil spill provoked the partial closure of the Keystone pipeline, which connects Canadian oilfields with America on Friday.
Oil was already underpinned after the EIA informed on Wednesday that crude inventories edged down by 1.9 million barrels the previous week, thus marking the first sag for three weeks.
The commodity obtained an extra boost from ascending signals that the Organization of Petroleum Exporting Countries along with its allies is going to agree to extend supply curbs beyond March.
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.