GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Crude prices decline on rise in American drilling
On Monday, crude sagged, as surging American drilling activity as well as steady supplies from OPEC countries notwithstanding touted output cuts pressured already-bloated markets.
Brent crude futures were dropped 0.56%, trading at $51.47 per barrel.
American West Texas Intermediate crude futures tumbled 0.78%, hitting $48.40 a barrel.
Market participants told that crude prices came under pressure from ascending American drilling as well as ongoing high supplies by the OPEC notwithstanding its pledge to reduce output by nearly 1.8 million barrels per day together with some other crude producers, such as Russia.
American drillers added 14 oil rigs by March 17, thus bringing the total count up to 631, which is the most impressive outcome since September 2015, as energy services firm Baker Hughes Inc informed on Friday.
Therefore, US crude output has ascended to over 9.1 million bpd from 8.5 million bpd in June the previous year.
.jpg)
Similar
Gold fell below $1,700
Gold (XAU/USD) is declining for the second day in a row. The reason of such a dynamic is that investors have turned to stocks.
GOLD: approaching $1,800!
The shining metal breaks above $1,760. How soon the 2012 heights may be beaten?
Latest news
CAD is in focus
Follow Canadian core retail sales on September 18 at 15:30 MT time!
Main market movements on September 17
The US dollar gained after the Fed’s report, while riskier assets dropped. Let’s have a closer look.
How to trade GBP after BOE statement?
Keep an eye on the UK monetary policy statement on September 17 at 14:00 MT time!
Deposit with your local payment systems
