
The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
On Tuesday, crude markets stood around seven-month minimums because market participants focused on persistent signs of soaring supply, undermining attempts by OPEC as well as other oil producers to underpin prices.
Brent futures grew 4 cents, hitting $46.95. On Monday, these futures lost 1%, settling at $46.91 a barrel.
It turned to be their lowest outcome since November 29, just the day before the Organization of the Petroleum Exporting Countries along with other crude producers agreed to reduce output for six months from January.
American West Texas Intermediate crude futures decreased 1 cent, being worth $44.19 a barrel. These futures dipped 1.2% in the previous session, settling at $44.20 per barrel, which is the lowest outcome since November 14. On Tuesday, the July contract is going to expire and August will turn to be the front-month.
Since May both benchmarks have slumped 15%, when OPEC, Russia along with other crude producers extended by nine months the output cut by 1.8 million barrels a day.
The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
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Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
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