Online Forex broker
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.
Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears…
On Monday, gold slipped a bit because the USD index rallied to its highest value for more than 17 months, thus affecting gold’s demand…
On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
