On Thursday, gold inched down and then recovered because downbeat American economic data compensated optimism over trade negotiations between America and China…
Crude stands still as leaping American output undermines OPEC cuts
On Tuesday, crude was nearly intact because the impact from hopes for an extended OPEC-led output cut was neutralized by ascending oil output in America.
Brent crude futures demonstrated $62.20 a barrel, adding 8 since their previous close.
Meanwhile, US West Texas Intermediate crude futures hit $56.50 a barrel, also rising 8 cent from their previous settlement.
Market participants told they stood away from taking on large new positions because of uncertainty in financial markets.
The Organization of the Petroleum Exporting Countries along with a group of non-OPEC producers headed by Russia, has been gradually reducing output since the beginning of 2017 in an attempt to end a global supply overhang and underpin prices.
The deal to tame output will expire in March 2018, although OPEC will have a meeting on November 30 in order to discuss the outlook for the policy.
OPEC is believed to extend output cuts due to the fact storage levels are still high notwithstanding recent drawdowns.
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…