
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 Monday, crude grew, with Brent staying above $60 per barrel, following hopes that an OPEC-led output cut due to expire in March 2018 would be prolonged. However, surging exports from Iraq suppressed crude prices.
Brent crude futures hit $60.73 a barrel, gaining 0.48% from their previous settlement and approaching their highest outcome since July 2015. The prices have jumped more than 36% since from 2017-minimums marked in June.
American West Texas Intermediate futures soared 0.3% reaching $54.06 a barrel.
With firm compliance to OPEC's output curbs already backing the commodity, comments from the Saudi Arabian Crown Prince who suggested the output cut agreement should be prolonged contributed to revenues.
OPEC is expected to meet at its headquarters in Vienna, on November 30.
Market participants told that a 900,000 bpd export capacity leap from Iraq's southern ports to about 4.6 million bpd had actually prevented Brent from surging further.
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.
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
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