The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).
Oil declines on soaring American fuel stocks
On Wednesday, crude dived because refined product inventories in America rallied in what the market interpreted as a true indication of lackluster demand.
American West Texas Intermediate crude futures hit $57.37 a barrel, sinking 0.4% from their previous settlement.
As for Brent crude futures, they lost 0.4% reaching $62.62 a barrel.
Market participants told that the lower prices emerged after a report by the American Petroleum Institute had pointed to a 9.2 million barrel leap in gasoline stocks by December 1 as well as a soar of 4.3 million barrels in inventories of distillates, including heating and diesel oil.
The very perception that the higher fuel stocks hinted at weak demand overshadowed the fact that crude inventories inched down by 5.5 million barrels reaching 451.8 million.
Robust global demand along with tight supplies might bring Brent crude to $70 a barrel by mid-2018, as some financial experts foresee.
The Organization of Petroleum Exporting Countries will hold a meeting on June 2.
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Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!