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On Thursday, crude reached their highest value for more than 2-1/2 years, thus marking levels not observed since before a dip in commodity markets in 2014/15, underpinned by tensions in major producer Iran as well as by everlasting OPEC-led output cuts.
Prices were also supported by Asia's stock markets that flirted with 10-year maximums on Thursday amid firm data from key economies including Germany, Japan and the United States.
American West Texas Intermediate crude futures hit $62.12 a barrel, rising 0.8% from their previous settlement. They hit $62.17 briefly before, their highest outcome since May 2015.
As for Brent crude futures, they hit $68.13 a barrel, adding 0.4%, having reached a May-2015 maximum of $68.19 before.
Freezing weather in America has also powered short-term demand, in particular for heating oil.
Meanwhile, Iran's elite Revolutionary Guards have had to deploy forces to up to three provinces for the purpose of putting down anti-government unrest, which has been lasting for a week, as their commander told on Wednesday.
On Thursday, the yellow metal headed south in Asia due to the fact that recent economic data indicated an improved economic surge outlook and also put pressure on the safe-haven commodity…
On Wednesday, gold was nearly intact, sticking with a four-month minimum because better-than-anticipated economic data from China kept global appetite for risky assets healthy and also tamed demand for havens…
On Tuesday, the yellow metal went down in Asia against the backdrop of more positive developments in the China-US trade negotiations…
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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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