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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 price for WTI has risen to its highest levels since the beginning of May.
On Wednesday, the yellow metal managed to extend gains for the fourth consecutive day, while other metals are going down…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.