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On Friday, crude prices ascended because both American crude output and inventories sagged, pointing to a tightening market.
Firm Chinese crude import data also underpinned oil, as market experts state.
With OPEC leading an output cut, market experts told that global crude markets were currently broadly balanced following years of oversupply.
American West Texas Intermediate crude futures hit $50.88 a barrel, rising 0.6% from their previous settlement.
American crude inventories went down 2.7 million barrels by October 6, hitting 462.22 million barrels, as the Energy Information Administration informed on Thursday.
Crude output slid 81,000 barrels a day reaching 9.48 million bpd.
Brent oil futures hit $56.51, soaring 0.5%.
Firm Chinese crude imports that averaged up to 8.5 million bpd between January and September, also underpinned oil prices, as financial experts stressed.
On Wednesday, gold managed to leap reaching the best levels of the trading session because data disclosed that American consumer price surge speeded down in November…
On Friday, gold headed south…
On Tuesday, the yellow metal managed to surge in Asia…
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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