On Thursday, gold inched down and then recovered because downbeat American economic data compensated optimism over trade negotiations between America and China…
Crude sits close to half-year minimums
On Friday, crude prices kept to six-month minimums, held down by an everlasting supply overhang, persisting notwithstanding an OPEC-led effort to reduce output and also prop up crude markets.
Brent crude futures hit $46.97 a barrel, moderately higher than their previous settlement.
American West Texas Intermediate crude futures gained too, demonstrating $44.48 per barrel.
However, prices for both benchmarks have lost approximately 13% since late May, when producers led by the OPEC dared to extend a promise to reduce output by nearly 1.8 million barrels a day until the end of the first quarter of next year.
Soaring American crude output, especially from shale drillers, is actually contributing to the overall ineffectiveness of the OPEC-led drops.
Besides this, high exports as well as production from Russia are adding to the everlasting glut too.
Russia is supposed to export up to 61.2 million tons of crude via pipelines during the third quarter versus 60.5 million tons in the second quarter.
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
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…