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.
September 23, 2016 Risk rating
The market is in need of a new narrative. The Fed meeting in December is too far off and for now, the US election is not something that entices excitement. With central banks on hold, markets are pushing the envelope in terms of risk...
September 23, 2016 Greenback regains some ground
On Friday, the evergreen buck regained some ground against other key currencies, as markets kept digesting the Fed’s latest policy decision...
September 23, 2016 Dollar rebounds slightly as precious metals are in a hot zone
The US Dollar rebounds after a substantial selloff led by the FOMC decision to leave the interest rate unchanged. The Dollar index, which tracks the US currency against major peers, recoiled with support at a 95.00 level on Thursday, adding 0.05% to the 95.36 price in the early Friday session...
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