Crude sags in Asia as American rig count gains

Crude sags in Asia as American rig count gains

On Monday, crude went down in Asia because the market digested fresh additions to the American rig count the previous week as well as firm output in the US.

January delivery US West Texas Intermediate crude futures dived 0.51% hitting $57.07 a barrel. Besides this, ICE Brent futures lost 0.38% hitting $63.09 a barrel.

This week crude traders are going to view monthly reports from OPEC and also the International Energy Agency for the purpose of evaluating global oil demand and supply levels. The given data will provide investors with a better picture of whether a rebalancing is taking place worldwide in the oil market or not.

The previous week, crude concluded higher on Friday, driven by signs of ascending crude demand in China, although prices didn’t’ manage to avoid a weekly loss amid worries over soaring output in America.

February Brent crude futures added 1.9% setting at $63.40 a barrel. Brent lost 0.6% for the week.


Gold declines on Fed remarks

On Wednesday, gold headed south and kept to a one-year minimum due to the fact the evergreen buck managed to strengthen on Fed Chair’s remarks, which backed views that the US major financial institution considers lifting its interest rates this year…


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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