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On Wednesday, crude prices went down by 1%, continuing Tuesday's slide right after the International Energy Agency expressed doubts as for the last few months' narrative of tightening crude markets.
Brent crude futures demonstrated $61.61 a barrel, sliding 1% from their previous close.
American West Texas Intermediate crude futures CLc1 reached $55.14 a barrel, decreasing 1%.
The price dips mean that crude prices are currently falling by approximately 5% since hitting 2015 maximums the previous week, concluding a 40% soar between June and early November.
On Tuesday, the International Energy Agency downgraded its crude demand surge estimates by approximately 100,000 barrels a day for this year and 2018.
The given demand slowdown could suggest that world crude consumption might not, as many hope, breach 100 million bpd in 2018, while supplies will probably exceed that level.
American crude output has already soared by more than 14% since mid-2016 to about 9.62 million bpd and it’s supposed to keep rising.
On Thursday, gold ascended because bullish traders took the Fed’s latest hawkish remark in stride and also targeted the $1,250 level for the purpose of recapturing ground lost earlier in the year…
On Wednesday, gold sank after a two-day rally because a strengthening greenback took some of the bullish support from the yellow commodity because the Fed uncovered details from its latest policy gathering…
On Monday, gold surged nearly 1% hitting the highest value for three months because a combination of fears over soaring American yields as well as the impact of trade clash, along with geopolitical risks and also a weaker greenback, backed demand for the…
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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