The release of crude oil inventories earlier today showed a surprise increase in the number of barrels.
Crude reaches multi-year peaks
On Tuesday, crude was hovering at multi-year maximums because unrest in Iran sparked worries over potential supply disruptions in the region, while supply cut efforts by global crude producers kept backing the commodity.
February delivery US West Texas Intermediate crude futures gained 0.23% being worth $60.55 a barrel, which is the highest reading since June 2015.
Additionally, March delivery crude futures rallied 0.16% hitting $66.99 a barrel, which is off an almost three-year maximum of $67.29 demonstrated overnight.
Late on Monday, Iranian protesters dared to attack police stations in their fourth day of demonstrations thus marking the greatest challenge to Iran’s clerical leadership since 2009.
Crude was still backed by output cuts led by OPEC. In December, the oil producers agreed to prolong current crude output cuts until the end of 2018.
Gasoline futures rallied 0.16% being worth $1.789 a gallon, natural gas futures gained 2.10% trading at $3.015 a million British thermal units.
The yellow metal reached the highest levels in 6 years amid the global risk aversion.
The yellow metal could not stay for a long time near the $1,401 level.
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.