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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, 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…
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…
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…
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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