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On Wednesday, crude prices decreased in European trade because market participants looked ahead to weekly data from America on stockpiles of crude as well as refined products later in the global day.
August delivery West Texas Intermediate crude futures hit $43.91 a barrel, sliding 0.7%.
September delivery Brent crude futures lost 0.5%, being worth $46.69 a barrel, having hit a more than one-week peak of $47.30 in the previous session.
On Wednesday, crude prices posted decent revenues, with the commodity logging its fourth lucky session in a row.
The American Energy Information Administration is about to issue its official weekly crude supplies report soon.
The surge in American drilling activity as well as shale output has mostly compensated efforts by OPEC and also other producers to tame output in a move to stabilize the market.
The previous month OPEC along with some non-OPEC producers extended a deal to reduce 1.8 million barrels per day until March 2018.
Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears…
On Monday, gold slipped a bit because the USD index rallied to its highest value for more than 17 months, thus affecting gold’s demand…
On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution…
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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