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Crude slips away from 2015 maximums
On Wednesday, oil slipped away from two-and-a-half year maximums reached the previous trading session. It’s because of the gradual resumption of flows via a key North Sea pipeline offset supply disruption in Libya.
However, the two outages in rapid succession have clearly shown how much tighter crude markets worldwide have become a year into supply reductions led by OPEC along with Russia.
American West Texas Intermediate crude futures hit $59.74 a barrel, sliding 23 cents from their previous settlement. Apparently, in the previous session WTI futures overleapt $60 a barrel for the first time since June 2015.
As for Brent crude futures, they demonstrated $66.66 a barrel, losing 36 cents. Yesterday, the given commodity benchmark managed to break through $67 for the first time since May 2015.
The dives happened to be an outcome of the gradual return of the 450,000 barrels a day capacity Forties pipeline system, situated in the North Sea.
The price for WTI has risen to its highest levels since the beginning of May.
On Wednesday, the yellow metal managed to extend gains for the fourth consecutive day, while other metals are going down…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.