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On Monday, crude declined because ongoing worries over a global supply glut put pressure on market sentiment.
September delivery West Texas Intermediate crude futures lost 0.1%. The benchmark decreased to its lowest value in nearly two-and-a-half weeks being worth at $47.98 in the previous trading session.
Meanwhile, October delivery crude futures inched down 0.2% in London, hitting $52.00 a barrel.
On Friday, crude prices settled higher, still concluding the week with a loss.
The previous week WTI sank 1.5%, while Brent went down 0.6%, amid signs that OPEC members stepped up output in July notwithstanding the current pact to cut output.
As the International Energy Agency states, OPEC's compliance with the output cuts had dropped to 75% the previous month, which is the lowest outcome since the deal burst out in January.
On Friday, oilfield services company Baker Hughes reported that its weekly count of crude rigs operating in America ascended by three rigs to 768 the previous week.
On Thursday, the yellow metal headed south in Asia due to the fact that recent economic data indicated an improved economic surge outlook and also put pressure on the safe-haven commodity…
On Wednesday, gold was nearly intact, sticking with a four-month minimum because better-than-anticipated economic data from China kept global appetite for risky assets healthy and also tamed demand for havens…
On Tuesday, the yellow metal went down in Asia against the backdrop of more positive developments in the China-US trade negotiations…
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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…
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