Observing news today one can easily get disappointed. However, things are getting better.
Crude prices stand still in Asia as markets look to producers' meeting
On Friday, crude prices settled down during Asia trade having hit month-long peaks overnight and ahead of a gathering of the crude producers on Monday.
September delivery West Texas Intermediate futures were intact, losing no more 0.02% and keeping to $46.91. As for September delivery Brent crude futures, they also dipped just 0.02% being worth $49.29.
On Thursday, crude prices soared after American crude inventories dived 4.73 million barrels by July 14, as the EIA posted. As for gasoline inventories, they shrank by 4.4 million barrels.
Thursday’s crude soar, which took the commodity’s prices to peaks not observed since June 7, was also driven by hopes that crude producers might reduce supplies. OPEC as well as non-OPEC producers are expected to meet in Russia on Monday and traders are waiting for any clues that Saudi Arabia, the leading producer of crude, might cut its output.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.
27,000 people became unemployed in private sector
The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.