Crude reaches multi-year peaks

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.


US Retail Sales

A change in retail sales is one of the most important economic indicators for the US economy and the USD.

Gold inches up

On Thursday, gold managed to gain due to the fact that the evergreen buck gave up some of its revenues, while relieving trade-war worries assisted traders in cutting bearish bets on other commodities…


Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

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