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On Friday, crude went up in Asia after the USA fired dozens of missiles into Syria, responding to a chemical weapons attack on civilians.
In New York, May delivery crude futures surged 1.51%, hitting $52.48 a barrel. Meanwhile, in London, Brent futures added 1.55%, trading at $55.70 a barrel.
Besides this, traders shift their attention to Baker Hughes rig count, expected to be released later on Friday.
Overnight, oil settled higher, as hopes that an OPEC-led cut would be extended beyond June compensated bearish American inventories data.
Oil futures managed to settle higher for a third straight day notwithstanding renewed worries that a ramp up in American crude output would dampened OPEC’s efforts to cut supply, after American crude inventories reached a record peak on Wednesday.
Wednesday’s report from the Energy Information Administration revealed a sudden surge in US crude inventories that confounded expectations for a dip in inventories because America approaches the ‘summer driving season’.
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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