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On Monday, crude prices revived some ground, following the previous week's huge losses, powered by hopes that OPEC will extend its promise to minimize output to cover all of 2017, though a relentless surge in American drilling capped revenues.
American West Texas Intermediate crude futures CLc1 gained 0.5%.
Brent crude futures LCOc1 inched up 0.5%, hitting $52.23 per barrel.
Crude prices edged down steeply the previous week on the back of relatively high crude supplies notwithstanding a promise by the Organization of the Petroleum Exporting Countries as well as some other crude producers to reduce output by nearly 1.8 million barrels per day for six months from January 1 to back the market.
American drillers added crude rigs for a 14th week in a row, adding to 688 rigs and extending an 11-month revival, expected to boost American shale output in May by the biggest monthly surge in more than two years.
On Wednesday, gold managed to leap reaching the best levels of the trading session because data disclosed that American consumer price surge speeded down in November…
On Friday, gold headed south…
On Tuesday, the yellow metal managed to surge in Asia…
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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