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On Tuesday, crude prices soared in Asia because the market works via the impact on the American Gulf Coast refining as well as crude output sectors.
In New York, October delivery crude futures grew 0.58% being worth $46.84 a barrel. At the same time in London Brent futures rallied 0.47% trading at $51.66 a barrel.
Overnight, oil futures settled lower because Tropical Storm Harvey kept disrupting refinery activity along the American Gulf coast, contributing to fears of an uptick in oil supplies.
Crude demonstrated a dismal start to the week because flooding provoked by the storm made refiners in the Gulf of Mexico region shutdown, thus driving worries over an excess in oil supplies, which is the major input at refiners.
While the storm is also believed to affect crude output, experts are assured that the overall impact of lower crude demand at refineries would offset the sag in crude output.
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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