Crude prices get to 2-week peaks as American crude output dips

Crude prices get to 2-week peaks as American crude output dips

On Thursday, crude prices tacked on to a two-week peak in European trade, extending revenues into a sixth session right after the American government data disclosed the greatest weekly dip in domestic crude output in nearly a year.

August delivery West Texas Intermediate crude futures were worth $45.12 a barrel, earning approximately 0.9%.  The commodity benchmark reached its highest value since June 14.

Meanwhile, September delivery crude futures surged 0.8% in London, having reached a two-week peak of $48.03.

On Wednesday, oil prices reported steep revenues, with the commodity boasting its fifth wining session in a row.

Crude prices have stood under pressure in recent weeks because worries over ascending American shale output canceled out output cuts by OPEC as well as non-OPEC members.

The previous month, OPEC along with some non-OPEC producers extended a deal to reduce up to 1.8 million barrels per day until March next year.


Gold declines on Fed remarks

On Wednesday, gold headed south and kept to a one-year minimum due to the fact the evergreen buck managed to strengthen on Fed Chair’s remarks, which backed views that the US major financial institution considers lifting its interest rates this year…


Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

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