Gold keeps diving on Turkey economic downtime
On Monday, gold headed south because Turkey’s economic turmoil left financial markets puzzled…
Crude leaps in Asia
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’.
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