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On Tuesday, oil managed to extend its drop into a second session because market participants looked ahead to weekly reports from America on stockpiles of oil as well as refined products to indicate the strength of demand in the world’s number one consumer.
Industry group the American Petroleum Institute is expected to publish its weekly report soon on Tuesday. On Wednesday, official data from the Energy Information Administration is going to be published, amid estimates for an oil-stock sag of approximately 3.5 million barrels that would mark the third-straight dip.
American West Texas Intermediate crude futures edged down 0.4% hitting $57.23 a barrel, having declined 1.5% yesterday.
At the same time Brent crude futures got to $62.22 a barrel, diving 0.4%, from their previous close. In the previous session the contract tumbled 2%.
On Monday, crude settled lower amid concerns that soaring American shale output would affect OPEC’s vigorous effort to rid the crude market of excess supplies.
Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears…
On Monday, gold slipped a bit because the USD index rallied to its highest value for more than 17 months, thus affecting gold’s demand…
On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution…
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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