Oil falls after Saudi indicates increase in supply if required

12 June, 2015

Oil prices at both the sides of the Atlantic retreated after Saudi Arabia said it was ready to raise output further if needed. 

Front month Brent crude fell 29 cents or 0.45% to USD 64.80/barrel., while WTI crude fell 57 cents or 0.93% to trade at USD 60.20/barrel. 

WTI crude prices rose to high of USD 61.82/barrel earlier this week as firm demand and a strong US stock drawdown lifted the market. But the rally was halted today after Saudi Arabia once again expressed readiness to supply more in case demand rises.


Source link  
EUR/GBP hits fresh highs

The British Pound faded UK manufacturing PMI-led minor up-tick, lifting the EUR/GBP cross to fresh highs since mid-March...

Oil sees a flash crash

Oil prices on both sides of the Atlantic witnessed a sharp downward spike, following comments from oil ministers of leading OPEC producers...

Euro under moderate pressure

The research team at Lloyds Bank explains that the euro, along with the pound, has outperformed over the past month...


Gold hanging near 3-week lows

Gold oscillated in a narrow trading band, with slight negative bias, and was seen consolidating...

US Dollar finds buyers around 100.20

The greenback, measured by the US Dollar Index, stays under...

Gold consolidates near $1,260/oz

The ounce troy of the precious metal has reverted yesterday’s pullback and is now trading near session tops around $1,260...


Oil sits at multi-month troughs

Oil benchmarks on both sides of the Atlantic snapped a minor-bounce and traded modestly flat ahead of the European open, as investors remain wary heading towards the inventory report due to be published by the API later on the day...

Gold holding stable around $1318

After dipping to $1315 region, Gold has managed to recover the lost ground and is currently trading nearly unchanged around $1318 level, awaiting for fresh impetus from FOMC monetary policy decision...

Gold inching higher to reclaim $1300 level

Risk-off sentiment across global financial markets and broader USD weakness continues to boost demand for Gold, which has now moved within striking distance of reclaiming $1300 level for the first time since Jan. 2015...

  


Share: