Crude sags in Asia with financial market monitoring Nate in Gulf of Mexico

Crude sags in Asia with financial market monitoring Nate in Gulf of Mexico

On Friday, crude prices went down in Asia following information that another tropical storm dubbed Nate is currently on its way to becoming a full hurricane as it comes up to the Gulf of Mexico with several offshore output sites already shut, which is also true for refineries.

In New York, November delivery crude futures sank 0.10% being worth $50.74 a barrel. In London, Brent futures went down 0.16% trading at $56.91 a barrel.

Overnight, oil managed to settle higher because worries over an uptick in American as well as Libyan production were compensated by negotiations of an extension to the OPEC-led deal to reduce crude output.

Crude revived from a 1% dip sustained from last trading session because Saudi King Salman’s visit to Moscow drove hopes that the two nations would negotiate a probable extension to the global pact to tame output.

In May, OPEC along with non-OPEC crude producers agreed to extend output cuts of about 1.8m barrels a day for 9 months until March next year.

Similar

Gold inches up

On Thursday, gold ascended because bullish traders took the Fed’s latest hawkish remark in stride and also targeted the $1,250 level for the purpose of recapturing ground lost earlier in the year…

Gold goes down

On Wednesday, gold sank after a two-day rally because a strengthening greenback took some of the bullish support from the yellow commodity because the Fed uncovered details from its latest policy gathering…

Gold rallies to 3-month maximums

On Monday, gold surged nearly 1% hitting the highest value for three months because a combination of fears over soaring American yields as well as the impact of trade clash, along with geopolitical risks and also a weaker greenback, backed demand for the…

Latest news

Greenback edges down

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…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera