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On Friday, crude prices didn’t change in early Asian trade because the market was eager to see whether key crude producers would dare to extend supply cuts beyond March at a gathering in Vienna later in the day or not.
Brent crude futures demonstrated an outcome of $56.40 a barrel, sliding 0.05% from their previous close.
Meanwhile, West Texas Intermediate crude futures gained 0.14% sticking to $50.62 per barrel.
The Organization of the Petroleum Exporting Countries along with other oil producers are braced for meeting in Vienna on Friday for the purpose of discussing a probable extension of a crude supply cut deal to back crude prices.
Market participants are also eager to learn whether Libya and Nigeria, who have been exempt from those curbs, will join any output cuts in the future.
With American stockpiles still elevated, a sturdy signal about lower supply is probably required for price momentum to stay positive.
On Monday, gold managed to ascend from one-week minimums in subdued Monday trade due to the fact that market participants waited for what’s widely anticipated to be the Fed’s third interest-rate lift of 2018 this week…
On Friday, gold declined, simultaneously trying to preserve its weekly profits because the USD index jumped, offsetting its abrupt weekly dive…
On Thursday, gold declined notwithstanding a weakening evergreen buck in the face of ebbing trade fears, as market participants waited for economic data later in the trading session and also looked ahead to the Fed’s policy gathering next week…
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…
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